This state could account for 14 percent of the U.S. medical marijuana market by 2020

Florida’s size and large percentage of elderly residents could vault the state to the second-largest U.S. medical cannabis market by 2020, a new report shows.

By 2020, Florida could be tallying $1.6 billion in medical marijuana sales — and have a 7.5 percent share of the overall U.S. legal cannabis market and a 14 percent share of the U.S. medical pot market, according to data released Tuesday from New Frontier Data and The Arcview Group, firms that specialize in conducting market research of the burgeoning cannabis industry.

 Florida’s Amendment 2, a measure to legalize medical marijuana for certain ailments such as cancer and Crohn’s disease, overwhelmingly passed on Nov. 8, with nearly 6.5 million votes, or 71.2 percent, in favor. Florida previously allowed non-smoked, low-THC cannabis — containing 0.8 percent or less of THC and at least 10 percent of cannabidiol (CBD) — for people with cancer, a physical medical condition that chronically causes spasms or seizures, or those who are terminally ill.

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