NEW YORK, Sept. 9, 2016 /PRNewswire/ -- GreenWave Advisors, LLC the leading independent financial research and advisory firm that serves the burgeoning cannabis industry, will release a report that calls to attention a marijuana market metamorphosis as states with both legalized medical and recreational use evaluate the practicality of a merged regulatory regime (as already underway in Washington, Oregon and Alaska).
"Should California vote to legalize recreational use this November, we expect implementation of a combined regulated market as soon as 2018," said Matt Karnes, Founder of GreenWave Advisors. Mr. Karnes further states that "A merged California market is significant, not only because of its sheer size (~55% of the U.S. market), but also it would mark the first state to implement regulations for a fully legal market without initial oversight of medical use purchases. This could serve as a catalyst for similar action in Nevada, Arizona, Massachusetts and Maine which will also vote to fully legalize marijuana this November."
In its report "Mid Year Update: The Metamorphosis of the U.S. Marijuana Market Begins" the firm reiterates its expectation for U.S. Marijuana Sales of $6.5 billion for 2016 and extends its forecast to 2021 at which time it expects revenues to reach approximately $30 billion -- this assumes that marijuana will be legal in all 50 states in some capacity. Furthermore, the firm notes that this year's election choices can potentially effectuate $4.2 billion in incremental retail revenues by 2018 and $5.8 billion by 2021.
This report will be available for purchase on the company website
www.greenwaveadvisors.com. GreenWave Advisors, LLC is based in New York City and is the premier independent financial research and advisory firm serving the emerging cannabis industry.
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SOURCE GreenWave Advisors, LLC