Economic events & activities following legalization of marijuana in the U.S.
Green Rush
Cannabis store in Denver, Colorado
Date
December 6, 2012 (2012-12-06)– present
Location
Canada, U.S. states with legalized cannabis
Outcome
Wealth for participants, and tax revenue for governments
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The Green Rush (2012–present) is an ongoing global economic event that began on December 6, 2012, when cannabis was legalized in the US state of Washington; Colorado's legalization took effect four days later.[1][2] While still illegal federally in the United States,[3] the actions of these two state governments signaled the opening of a market projected to be worth US$48+ billion globally by 2027.[4] As of 2019 the cannabis industry had created over 250,000 jobs.[5] However, cannabis companies have been a mixed investment success, with many experiencing plunging stock prices, massive layoffs, and failure to meet investor expectations.[6]
^Governor signs Amendment 64, marijuana officially legal in Colorado
^Dokoupil, Tony (November 13, 2012). "Legalizing And Regulating Pot: A Growth Industry". NPR News. Retrieved March 14, 2020.
^Lopez, German (August 20, 2018). "Marijuana is illegal under federal law even in states that legalize it". Vox. Retrieved March 14, 2020.
^"Cannabis/Marijuana Market Size, Share and Industry Analysis By Type (Flowers/Buds and Concentrates), By Application (Medical, Recreational (Edibles and Topicals), and Industrial Hemp), and Regional Forecast 2019-2026". Fortune Business Insights. August 2019.
^Cox, Jeff (March 14, 2019). "The marijuana industry looks like the fastest-growing job market in the country". CNBC. CNBC LLC.
^Cite error: The named reference Bloomberg was invoked but never defined (see the help page).
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