U.S. and Canadian weed consumers plopped down $53.3 billion for legal and illegal marijuana in 2016, according to a new report from Arcview Market Research. However, the vast majority of those transactions took place on the black market.

Still, this is more money than Americans spent at McDonald’s and Starbucks combined, according to QSR Magazine.

Arcview’s 22-page executive summary for the “State of Legal Marijuana Markets” estimated that the black market still accounts for 87 percent of marijuana sales, down 90 percent in 2015.

The North American legal weed market posted $6.9 billion in revenue in 2016 alone, a 30 percent increase from the year before—meaning that it’s growing as fast as broadband internet grew in the 2000s, according to the Pew Research Center.

But, still, it sounds like quite a bit of revenue is going into the illegal market.

What gives?

Troy Dayton, CEO of Arcview, says consumer spending in the black market creates a path for growth in the legal market.

“The enormous amount of existing, if illicit, consumer spending sets cannabis apart from......... http://hightimes.com/news/americans-and-canadians-spent-53-3-billion-on-weed-last-year/

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