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FILE: Marijuana plant awaits judging in the Oregon Cannabis Growers' Fair marijuana plant competition in Salem, Ore. (AP Photo/Gillian Flaccus, File)

The marijuana industry is lighting up. A new report projects a $24 billion market by 2025


Mary Jane is projected to pull in serious bank for the US economy.

The marijuana industry is expected to create more than a quarter-million jobs by 2020.

A new report from New Frontier Data, an analytics company which tracks industry trends, says by that time, the cannabis market will create more jobs than expected.

Total market sales of weed are expected to exceed $24 billion by 2025, and with it the possibility of almost 300,000 jobs by 2020, according to the report.

The legal cannabis market was worth an estimated $7.2 billion dollars in 2016. The cannabis market is projected to grow at a compound annual growth rate of 17 percent.

New Frontier based its estimates on a study commissioned by Colorado state officials and carried out by the Marijuana Policy Group (MPG) hired by Colorado for economic analysis.

The marijuana industry is lighting up. A new report projects a $24 billion market by 2025

But these projections may change sooner than expected.

During the campaign, Trump said that pot legalization should be a states' issue.  But the White House said Thursday that the federal government plans to step up marijuana law enforcement and crack down on states that allow recreational marijuana. 

I do believe that you'll see greater enforcement.
White House spokesman Sean Spicer

Press secretary Sean Spicer told reporters that there would likely be “greater enforcement” of federal anti-cannabis laws under Trump, saying recreational marijuana should be treated just as seriously as opioid use. 

"I think that when you see something like the opioid crisis blossoming in so many states around this country, the last thing we should be doing is encouraging people."

Is marijuana and opioids on the same playing field?

Spicer didn't provide specifics about how a crackdown could occur. Pot is still considered illegal under federal law, but the Justice Department prosecutors have largely left state-level marijuana marketplace operators alone. 

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