An $8 billion night: 7 states legalize medical, recreational cannabis in historic election
By Marijuana Business Daily staff
The cannabis industry scored a landslide victory Tuesday as four states legalized recreational marijuana and another three approved medical use, cementing the 2016 election’s place in the history books.
The developments could lead to $7 billion-$8 billion in additional annual retail cannabis sales, according to Marijuana Business Daily’s preliminary estimates.
California, Maine, Massachusetts and Nevada voted to legalize recreational marijuana, while Arkansas, Florida and North Dakota approved medical cannabis initiatives.
Montana, which legalized medical marijuana in 2004, also passed a measure to set up commercial cultivation operations and dispensaries.
“It’s a coast-to-coast landslide,” said