Medical Pot Sales Expected To Plunge
Sacramento, CA – The legalizing of recreational marijuana on Monday in California for those 21 and older is sure to cause some people to toss out their state-issued cards – but one group may be a holdout.
It was two decades ago that the state approved medical marijuana for those 18 and older. Many citizens did not have a hard time finding a doctor to write a prescription or coming up with a health issue. Many will not need that excuse anymore to use marijuana, which has the state’s medical pot market anticipating a big hit in sales.
A recent study by the University of California Agricultural Issues Center found that revenue from medical sales could decline from a projected $2 billion for last year to around $1.4 billion next year. At the same time, the legal sale of recreational pot should bring in more than $5 billion as it will capture nearly 62 percent of all sales.
The catch comes in regards to those ages of users caught between medical and recreational marijuana that are18 to 20. They will still either need to get a medical card or turn to the black market, which is expected to keep 30 percent of the states marijuana market.