A new report from bank Barclays (LSE:BARC,NYSE:BCS) projects that the US marijuana market would have a value of US$28 billion if it was legal today, with the potential to grow to US$41 billion on a pre-tax basis by 2028.
Barclays analysts shared a note with investors on Wednesday (May 1), indicating a positive outlook for the next few years in the US marijuana space.
According to a report from CNBC, the bank’s research shows the market could be worth approximately US$41 billion if the drug is fully legalized in the country, with US$28 billion generated for tax revenues.
“While no bonds backed by cannabis tax revenues have been placed thus far, if federal approval is granted, the cannabis muni bond market will likely flourish, amounting to billions if not tens of billions of dollars, in our view,” Barclays said in its note.
The marijuana industry in the US has flourished despite the continued federal illegality of the drug, since several states have moved forward with legal programs.
These state programs vary in availability and allowance of medical and recreational uses to consumers.
As such, publicly traded marijuana firms operating assets scattered across legal states have captured the attention of investors looking for potential gains in the larger US market, compared to the smaller