As more states continue to legalize recreational marijuana—the current tally is nine and Washington, D.C.–speculation is afoot among industry pundits that this could be the precursor to a major slowdown, if not death knell, for the medical marijuana industry, which has 30 states and D.C. allowing its use. According to estimates by leading cannabis researchers ArcView Market Research in partnership with BDS Analytics, the latest revenue projections for the U.S. medical cannabis industry in 2018 is $4.3 billion versus $6.7 billion for adult use. Last year, medical racked up $5.9 billion while adult use snagged $2.6 billion.
Much of the steep drop in the medical market and surge in recreational use has to do with users gaining wider access to the substance, says Tom Adams, managing director of industry intelligence at BDS Analytics. He also blames the dip on California,