Photograph by Matthew Staver — Bloomberg/Getty Images
By Tory Newmyer
September 14, 2015

The era of legal pot is upon us. And the proof lies in all the green that green will yield. Fortune asked marijuana research firm New Frontier to crunch the numbers (modeled by Mee Inc.) to find the projected market size of the states most likely to legalize marijuana next. By 2020 those states are projected to host a multibillion-dollar market around the plant—a potentially compel­ ling argument for the rest to follow suit.

Below, the estimated size of the market ($ millions) for nonmedical marijuana in the 11 places expected to legalize it next. (It’s already legal in Alaska, Washington, Colorado, and Oregon.) Height and color of the state indicate the percentage of people who smoked in the past 12 months in 2013 (latest available data).

A version of this article appears in the September 15, 2015 issue of Fortune magazine with the headline “The United States of Weed.”


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