It is no secret that the legal framework concerning Cannabis in the Unites States of America is rapidly changing the last years. The cannabis industry is now the fastest growing industry in the U.S.
The profits are moving from the black market to a regulated market.
A 2016 report by ArcView Market Research, an industry investment and research firm, found that legal cannabis sales went up in 2015 to $5.4 billion and will continue growing to reach $6.7 billion in total U.S. sales.
Among other facts let’s just note that all the presidential candidates for the upcoming elections, support the use of medical cannabis and two of them(not Hillary and Donald of course) support the free use for recreational purposes. As voters in more states embrace legalized marijuana sales and medical cannabis becomes more widely accepted, the cannabis market continues to boom. Ackrell Capital — an investment finance bank estimates the current U.S. consumer market for Cannabis (both the black market and the legal one) has a value of $40 billion.
Now that 25 states which have legalized medical cannabis and another four states (Colorado, Washington, Oregon, and Alaska plus Washington D.C) have legalized recreational cannabis, there seems to be a whole new era of business. Recreational marijuana sales are expected to help fuel the cannabis market’s tremendous growth over the next few years, But where does all this money go? The answer is simple: Communities use the revenue from the taxes they collected from marijuana sales to solve problems as building hospital making road improvements and some also help homeless people. They have found a source of money to support the social policies that they could not do before.
The cannabis industry today is large and dynamic and the predictions show a very promising future for the legal cannabis market. The sales will reach by 2020 $21.8 billion. Speaking in terms of Economy we could give a simple example: for every dollar spent on marijuana, another $3 is generated by the real economy.That means that marijuana economy has an economic multiplier of 4. It is a very good performance for an industry in times of crisis.
The new market contains several smaller niches and cannabis products.
It’s not only the scientists that have seen several therapeutic applications for many health conditions. Although we cannot definitely say that we Cannabis cures serious conditions like cancer, chronic pain, epilepsy just to name a few – there seems to be obviously a lot of potential here.
There is a demand for medical marijuana caregivers, clinicians, marketers and edible creators to support and promote the new products. Marijuana edibles, Vaporizers, cannabis seeds, services like cannabis wellness spa, and Ganja yoga and lots more.
A simple example of a sector that experiences a huge financial growth due to Cannabis is Tourism. Wherever in the States the laws became more flexible there is a constant touristic flow. People spend more and more.and want to go there to see what is this Cannabis all about.
Moreover, it’s not only the money that is generated with all these legal activities, it is also the money that the government saves as all these years the cost of prohibition was very big. Now that the laws have changed and became more liberal, the expenses of maintaining prisoners full of cannabis users disappeared. Additionally, the profits from the Drug Cartels have also disappeared.
It is strange times that we are living in.
Who would believe some years ago when even talking about cannabis was considered a big taboo, that this market would not only be legal but also an opportunity for making a lot of profits for stock market investors.