Legal marijuana sales topped $5.8 billion in 2016



Legal marijuana is growing fast.

Sales of the newly legal-for-many drug topped $5.8 billion in the United States in 2016, and $6.7 billion in North America, according to a new report.

That's a 30 percent jump in sales in North America, according to Forbes. U.S. sales in 2015 came in at $5.4 billion, so most of that growth is in Canada. In 2014, U.S. marijuana sales were $4.6 billion.

The Arcview Market Research report cited by Forbes projects that North American sales of legal marijuana will reach $20.2 billion by 2021.

As Forbes pointed out, this growth is faster than even the 2000s dot-com boom.

On Election Day in 2016, voters approved recreational marijuana measures in California, Maine, Massachusetts, Montana and Nevada. Medical marijuana gained approval in Florida, North Dakota and Arkansas.

Colorado and Washington state first voted for legalization in 2012. Canada is also moving toward legalizing adult use of marijuana.

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Marijuana legalization laws by state
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Marijuana legalization laws by state

Alabama: Medical use only, otherwise possession is a felony

(Photo: Dennis Macdonald via Getty Images)

Alaska: Marijuana legalized for medical and recreational use 

(Photo: Zoonar/N.Okhitin via Getty Images)

Arizona: Marijuana legalized for medical use

(Photo: Mikel Ortega via Getty Images)

Arkansas: Medical use only

(Photo: Getty Images)

California: Legal for medical and recreational use

(Getty)

Colorado: Legal for medical and recreational use  

(REUTERS/Rick Wilking)

Connecticut: Decriminalized and legalized for medical use 

(Photo: Shutterstock)

Delaware: Decriminalized

(Photo: Shutterstock)

Florida: Medical use only

(Photo: Shutterstock)

Georgia: Medical use only

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Hawaii: Medical use only

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Idaho: Not legal

(Photo: Shutterstock)

Illinois: Decriminalized

(Photo: VisionsofAmerica/Joe Sohm)

Indiana: Not legal

(Photo: Shutterstock)

Iowa: Medical use only

(Photo: Getty Images)

Kansas: Not legal

(Photo: Shutterstock)

Kentucky: Not legal

(Photo: Dorling Kindersley via Getty Images)

Louisiana: Medical use only

(Photo: Shutterstock)

Maine: Legal for medical and recreational use

(Photo: Shutterstock)

Maryland: Decriminalized

(Photo: Shutterstock)

Massachusetts: Legal

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Michigan: Medical use only

(Photo: Shutterstock)

Minnesota: Decriminalized

(Photo: Getty Images)

Mississippi: Decriminalized on first offense

(Photo: Getty Images)

Missouri: Not legal

(Photo: Shutterstock)

Montana: Medical use only

(Photo: Dennis Macdonald via Getty Images)

Nebraska: Decriminalized on first offense only

(Photo: Shutterstock)

Nevada: Legal

(Photo: Shutterstock)

New Hampshire: Medical use only

(Photo: Shutterstock)

New Jersey: Medical use only

(Photo: Shutterstock)

New Mexico: Medical use only

(Photo: Shutterstock)

New York: Decriminalized unless in public view

(REUTERS/Shannon Stapleton)

North Carolina: Decriminalized

(Photo: Getty Images)

North Dakota: Medical use only

(Photo: Shutterstock)

Ohio: Decriminalized

(Photo: Shutterstock)

Oklahoma: Medical use only

(Photo: Shutterstock)

Oregon: Legal for medical and recreational use

(Photo: Shutterstock)

Pennsylvania: Medical use only

(Photo: Henryk Sadura via Getty Images)

Rhode Island: Decriminalized

(Photo: Shutterstock)

South Carolina: Not legal

(Photo: Shutterstock)

South Dakota: Not legal

(Photo: Dave and Les Jacobs via Getty Images)

Tennessee: Medical use only

(Photo: Shutterstock)

Texas: Medical use only, decriminalized in Houston and Dallas

(Photo: Shutterstock)

Utah: Not legal 

(Photo: Shutterstock)

Vermont: Decriminalized

(Photo: Shutterstock)

Virginia: Not legal

(Photo: Shutterstock)

Washington: Legal for medical and recreational use

(Photo: Shutterstock)

West Virginia: Medical use only

(Photo: Getty Images)

Wisconsin: Medical use only

(Photo: Getty Images)

Wyoming: Not legal 

(Photo: Space Images via Getty Images)

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Colorado alone generated more than $1 billion in marijuana sales.

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