$SING The cannabis industry could exceed $50 billion in revenue by 2026, according to Cowen & Co., driven by the ongoing legalization of medical and recreational marijuana throughout the United States. With the passing of California’s Proposition 64, the size of the cannabis industry is expected to roughly triple in the near-term as recreational legalization goes into effect. This represents a key tipping point for the industry and an opportunity for startups and investors.

“A 24 percent, 10-year revenue compound annual growth rate is hard to find in consumer staples, in particular one with a $50-plus billion end-point,” said Cowen analysts to Bloomberg. “Cannabis prohibition has been in place for 80-plus years, but the tides are clearly turning.”

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