On November 8th, five states will be voting on whether to allow cannabis for adult use, and four additional states will be voting on medical cannabis measures.
According to New Frontier Data and Arcview Market Research, the largest potential adult use cannabis market is California, with legal adult use cannabis sales projected to reach $4.3 billion by 2020. If all five states pass their respective adult use measures, they could add an additional $6.4 billion in legal cannabis sales to the market by 2020.
On the medical side, Florida is projected to be the largest market, potentially adding $1.6 billion in legal medical cannabis sales by 2020. If all nine states pass their cannabis measures, they could add a projected $7 billion in legal cannabis sales by 2020.