Florida projected to make over $1 billion in medical marijuana sales over next 3 years

Despite some cities banning cannabis, with the passing of Amendment 2 last November, an industry report released Tuesday projects the state of Florida will reach $1.6 billion in medical marijuana sales within the next 3 years. New Frontier Data and Arcview Market Research stated that by the year 2020, Florida's medical marijuana industry will experience a 140% growth rate. The study reached these estimates based on data from governments, businesses and activists. "Florida has the potential to be one of the largest medical markets in the country. The state is home to the nation's largest percentage of people 65 and older, a demographic for whom chronic pain and catastrophic illnesses are commonplace and expensive to treat. Amendment 2 gives this large patient pool access to legal cannabis as an alternative therapy to their diverse medical needs," said New Frontier Data Founder & CEO Giadha DeCarcer. Amendment 2, which passed with a staggering 71% approval last month, will allow doctors to prescribe marijuana as a treatment for cancer, HIV/AIDS and other debilitating illnesses. The amendment doesn't go into affect until January 3, 2017.

However, local attorney John Morgan, who says he spent "$8 or $9 million" of his own money to pass Amendment 2, says it's likely that Florida won't start seeing the legislature and infrastructure in place until 2018. On Tuesday, December 5, the Orlando city commission voted unanimously to extend the temporary ban on new medical marijuana dispensaries, reports WESH. The temporary ban will allow the city more time to study exactly how close marijuana dispensaries should be allowed to be near churches and schools. Patients who are interested in using medical marijuana need to have a 3 month relationship with a qualified physician.