$EPAZ Up +10.91% as the Global cannabis market wil
Post# of 97749
![Avatar](/images/ProfileImages/no_avatar_available.jpg)
The value of the global cannabis market is set to soar to new heights, as more countries and American states legalize the drug, according to a new industry report.
Global legal spending on cannabis is forecast to be US$40.6 billion in 2024, nearly triple the US$14.9 billion estimated to be spent this year, according to Arcview Market Research and cannabis industry analysis firm BDS Analytics, which released its annual "State of the Legal Cannabis Markets" report on Thursday.
"That's a conservative number as well if regulators wouldn't move as slowly as they are right now," said Tom Adams, managing director of industry intelligence at BDS Analytics, who co-authored the report in a phone interview with BNN Bloomberg.
While much of that growth is expected to be led by North America, which accounts for nearly 90 per cent of all spending, other markets such as Europe and Asia are expected to end cannabis prohibition with a focus on liberalizing medical markets.
"Countries are realizing that people are using cannabis anyways. They can either tax it and regulate it or they can do nothing," Adams said. "That realization is set to spread globally and won't take that long to see cannabis prohibition unravel."
![Like This Post](/images/thumb-up.png)
![Dislike This Post](/images/thumb-down.png)
1️⃣I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
2️⃣All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
3️⃣I will not and cannot be held liable for any actions you take as a result of anything you read here.
4️⃣Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.