CANNAINVESTOR Magazine October / November 2016 - Page 74

The Texas Market

Texas is quickly working through the last phases of implementing the Compassionate Use Program (approved June 1, 2015 under the Texas Compassionate Use Act) which allows the use of High-CBD / Low-THC cannabis by patients who have been diagnosed with intractable epilepsy. Estimates are that 40,000 patients out of 150,000 in the state would seek a cannabis based treatment under the program that opens Summer 2017.

Green Well projects the High-CBD / Low-THC market in excess of $300 million and reaching $1 billion when the market expands to full medicinal with 300,000 patients. With a projected recreational market of over $2 billion (excluding the tourism multiplier), Green Well estimates Austin and Houston markets will far eclipse the entire state of Colorado.

Source: Market Size and Demand for Marijuana in Colorado, Prepared for the Colorado Department of Revenue ©2014; National Survey on Drug Use and Health (NSDUH)©2012; US Census Population Estimates ©2014; Green Well ©2016