If approved by voters on Tuesday, new regulated adult-use marijuana markets in Florida and North Dakota – along with a medical cannabis market in Nebraska – could collectively produce $3 billion during the first full year of sales.
Together, the markets are likely to reach $4.3 billion in marijuana sales by the fourth year of operation, according to analysis from the MJBiz Factbook.
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Most of the projected revenue would come from Florida, provided voters there approve adult-use sales during the general election on Tuesday.
The state’s 22 million residents and estimated 140 million yearly visitors are likely to spend roughly $2.9 billion on regulated adult-use marijuana once Florida’s new market is launched, putting the state in position to compete with California and Michigan as the
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