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Researchers predict that the market for legal marijuana will grow by 64 percent in the next year, according to a report released on Monday.

That’s a faster rate of growth than the smartphone industry experienced from 2012 to 2013, when that market ballooned by 46 percent.


The Huffington Post spoke about the emerging business with Steve Berg, a former managing director of Wells Fargo Bank and editor of the report.

"Cannabis is one of the fastest-growing industries,” he said. "Domestically, we weren't able to find any market that is growing as quickly."

Researchers estimate that more than $1.43 billion in legal pot will be sold in 2013, and that the number will climb to $2.34 billion in the coming year.


Watch Fusion’s explainer on “the green rush” here.

Ted Hesson was formerly the immigration editor at Fusion, covering the issue from Washington, D.C. He also writes about drug laws and (occasionally) baseball. On the side: guitars, urban biking, and fiction.