‘Biggest ever’ medical marijuana sales to start July 1
An unprecedented wave of medical marijuana deliveries is set to begin July 1, the first day of the new year.
The medical marijuana industry is poised to be the biggest on record, with the potential to reach $200 billion in sales by 2020, according to a new report by The Wall Street Journal.
More:The industry is projected to have $6 billion in gross sales by 2021, according the WSJ.
That number is expected to be driven by sales from licensed producers and medical cannabis companies, the Journal reported.
More than 70,000 U.S. businesses have signed up for a “Medical Marijuana Delivery Pilot Program,” according to the report.
That means medical marijuana companies will be able to sell to about 100,000 consumers in a single day, according Reuters.
The first batch of medical cannabis deliveries will be delivered to Colorado in late January, the company said.
The program is also expected to launch in the weeks ahead.
The WSJ said the program, which was first announced in December, could be used by recreational users as well as patients.
The delivery program was designed to encourage “consumers to start using cannabis for chronic pain, nausea and other debilitating conditions,” according the Journal.
It will also allow dispensaries to grow and sell the drug to people who are too sick to consume legally.
The Wall Street Press reported that the WSZ, a financial newsletter, reported that some of the delivery drivers are expected to earn a minimum of $1,000 per day.
The WSZ said that medical marijuana dispensaries are expected pay drivers about $500 a day.
The program, dubbed “Hemp for the People,” was first unveiled in late December and was expected to generate about $50 million for the state of Colorado.
The Washington Post reported that state officials were skeptical that marijuana would be a good economic tool, saying that the federal government would be unlikely to allow the industry to grow in the state, and that it would be difficult to control what people were smoking.
“We don’t want to see marijuana grown in a place where there are children, where there’s violence, where we have people that have severe mental illness,” said state Treasurer Brian Schweitzer.