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budtender weighs out marijuana for a customers at ShowGrow, a
medical marijuana dispensary in downtown Los
Angeles. AP Photo/Richard
Vogel Recreational cannabis sales are set to begin in California on
January 1 — and the market is expected to haul in billions in
revenue next year as dispensaries roll out across the state. A report from the cannabis industry research firm BDS Analytics estimates sales
of cannabis to hit $3.7 billion in 2018 alone, and predict that
number will increase to $5.1 billion in 2019 as more dispensaries
come online.  For comparison, beer sales in California hit $5 billion in 2017,
according to industry research group IBIS World.  California — the world’s sixth largest economy with a population
of close to 40 million — will be a huge chunk of the total market
for cannabis in North America. Legal marijuana sales
predicted to hit $9.7 billion across the
seven states where recreational marijuana is legal, excluding
California, and Canada in 2017 alone, according to BDS. That
number is expected to hit $24.5 billion in sales by 2021,
despite continued federal prohibition.  But many Californians in some of the state’s largest cities
will have to wait to buy legal pot. Many cities, including Los
Angeles and San Francisco, haven’t yet passed regulations in time
for the January 1 date, reports
Green State, a cannabis-focused digital outlet. That means
that a number of medical dispensaries, who are trying to
transition to the adult-use, or recreational market, will not
have their licenses in place to open on New Year’s Day. California’s cannabis market is expected to soar to $5.1 billion — and it’s going to be bigger than beer

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