"We're witnessing the emergence of a business that is about to become a massive economic force," wrote managing editor Chris Walsh in the publication's 2016 factbook.
Put simply, this election year will play a pivotal role in the future of the nation's marijuana industry. "You're gonna have a handful of states voting on whether or not to legalize," Walsh told CNBC. "These states could have some huge markets."
For instance, Florida, with its large senior population is "ripe" for legalized medical marijuana, according to Walsh. However, he said the real excitement is around Nevada, a huge tourist destination, which is voting on legalizing recreational marijuana use this year.
Marijuana Business Daily's exclusive research data found that year-to-year growth of medical and recreational sales from 2015 to 2016 will go from 17 percent to 26 percent, between $3.5 billion and $4.3 billion in revenue being raised this year. These are sales through legal dispensaries and storefronts or what Walsh called the "core of the industry," not the black market.
Nevertheless, he admits that the boom is taking the industry away from a mom-and-pop focus, something that many are not happy about.