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Florida’s size and large percentage of elderly residents could vault the state to the second-largest U.S. medical cannabis market by 2020, a new report shows.

By 2020, Florida could be tallying $1.6 billion in medical marijuana sales — and have a 7.5 percent share of the overall U.S. legal cannabis market and a 14 percent share of the U.S. medical pot market, according to data released Tuesday from New Frontier Data and The Arcview Group, firms that specialize in conducting market research of the burgeoning cannabis industry.

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