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Study: Recreational Marijuana in Canada Could Generate More Money Than Booze

A cannabis plant grows in the Amsterdam Cannabis College on Feb. 7, 2007 in Amsterdam, Netherlands.
Christopher Furlong—Getty Images A cannabis plant grows in the Amsterdam Cannabis College on Feb. 7, 2007 in Amsterdam, Netherlands.

Sales would surpass the combined totals that come from beer, wine and spirits

If recreational marijuana is legalized in Canada, it could generate a nearly $23 billion industry in the country, a new study suggests.

Sales would surpass the combined totals that come from beer, wine and spirits purchases, according to the Toronto Star, which cited a soon-to-be-released Deloitte report on Thursday. The newspaper said the report found that the base retail market alone would be worth $4.9 billion to $8.7 billion annually, while the ancillary market would spike to about $22.6 billion.

Marijuana appears to be moving toward legalization in Canada. Prime Minister Justin Trudeau last November asked federal officials to set up a legal framework for pot legalization.

[Toronto Star]

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