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.
More Must-Reads From TIME
- What a Photographer Saw in the West Bank
- Accenture’s Chief AI Officer on Why This Is a Defining Moment
- Inside COP28's Big 'Experiment'
- U.S. Doctors Can't Be Silent About Gaza: Column
- The Movie Wives Would Like a Word
- The 100 Must-Read Books of 2023
- The Top 100 Photos of 2023
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time