California's cannabis market is expected to soar to $5.

1 billion — and
it's going to be bigger than beer
Recreational cannabis sales are set to begin in California on January 1
— and the market is expected to haul in billions in revenue next year
as dispensaries roll out across the state.
A report from the cannabis industry research firm BDS Analytics (1)
____ sales of cannabis to hit $3.7 billion in 2018 alone, and predict estimate
that number will increase to $5.1 billion in 2019 as more dispensaries
come online. 
For (2) _______, beer sales in California hit $5 billion in 2017, compare
according to industry research group IBIS World. 
California — the world's sixth (3) ______ economy with a population large
of close to 40 million — will be a huge chunk of the total market for
cannabis in North America. Legal marijuana sales are predicted to hit
$9.7 billion across the seven states where recreational marijuana is
legal, (4) ______ California, and Canada in 2017 alone, according to exclude
BDS. That number is expected to hit $24.5 billion in sales by 2021,
despite continued federal (5) ______.  prohibit
But many Californians in some of the state's major cities will have to
wait to buy legal pot. Many cities, including Los Angeles and San
Francisco, haven't yet (6) _______ regulations in time for the pass
January 1 date, reports Green State, a cannabis-focused digital outlet.
That means that a number of medical dispensaries, who are trying to
transition to the adult-use, or recreational market, will not have their
licenses in place to open on New Year's Day.
On top of that, the price of pot is (7) _________ to increase up to expect
15% as California applies a new excise tax on recreational sales.
According to Green State, the price of an eighth-ounce of marijuana —
now around $54 including tax — will increase to (8) _______ $65, approximate
though local municipalities may levy different fees.
While it's hard to say how this will affect the market, there is a
concern here among some industry (9) _____ that high prices may analyze
divert some customers to the black market, where they an avoid the
extra fees.
All that extra tax, however, will (10) _____ be a windfall for like
California. By 2021, BDS Analytics predicts California will rake in up
to $1.4 billion from taxes on recreational marijuana purchases. 
By Bel Chavantes/Business Insider/January 2018