We all know about the record breaking earnings that states where recreational cannabis is allowed and we all see potential dollar signs. How big can this industry? One outlet believes bigger than the National Football League.
Per 420intel
Despite declining TV ratings for National Football League (NFL) games, football remains the most popular sport among Americans. It’s also a big industry, with the NFL generating estimated revenue of around $14 billion last season.
Another industry could soon eclipse the NFL, though, if projections from research companies Arcview Market Research and GreenWave Advisors are on target. Both Arcview and GreenWave think that the marijuana industry will be bigger than the NFL by 2020. Could this really happen — and, if so, what are the best stocks for investors to profit from the trend?
Arcview estimates that the U.S. marijuana market generated revenue of $6.7 billion in 2016. That’s roughly half of what the NFL made, so there’s a long way to go for the marijuana industry to even catch up with where the NFL is now. And that won’t be enough.
In 2010, NFL commissioner Roger Goodell announced a revenue target of $25 billion by 2027. To attain this goal, the NFL would probably need to pull in revenue of around $18 billion by 2020 to be on track.
Could cannabis become bigger than football and how can you reap some of the blessings? Read more here