skip to Main Content
7 Reasons Marijuana Has Virtually No Chance of Being Legalized in the U.S. Before 2021

No green flag for cannabis in the U.S., at least at the federal level, anytime soon.

If investors were to look around, they’d probably find a number of fast-growing trends, such as blockchain, cloud computing, and gene therapy in the healthcare sector. But there’s perhaps no industry with a more impressive growth rate at the moment than marijuana.

It would appear that sales for the cannabis industry are only limited by our imagination. Whereas I personally thought that Cowen Group‘s estimate of $75 billion in global sales by 2030 was fairly aggressive, I was blown out of the water by Stifel analyst Andrew Carter’s recent report calling for $200 billion in yearly sales in a decade. Such a scenario has one key cog if it’s to be successful: the United States has to legalize marijuana at the federal level.

Make no mistake about it: We’ve come an incredibly long way in the U.S. since 1995, when no states had legalized medical or recreational pot, and support for legalization stood at roughly 25%. Today, two-thirds of respondents to Gallup’s annual poll favor legalizing marijuana, with 33 states having approved medical cannabis in some capacity. Of these 33 states, a third (11) also allow recreational consumption, with Illinois being the latest to legalize marijuana last month. Retail sales in the Land of Lincoln will commence on Jan. 1, 2020. [Read More @ The Motley Fool]



This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

State board revokes Secaucus dispensary’s cultivating and manufacturing licenses over $700K in unpaid fees

In a shocking move for the local and state cannabis industry, New Jersey officials revoked the Harmony Foundation’s licenses for cultivating and manufacturing adult-use marijuana over unpaid fees, while also…

Trulieve to Close Last California Store; Exit Massachusetts by End of 2023

Trulieve announced today that it is cutting losses in two mature markets where it has a minimal footprint relative to other states. The multistate operator said it is closing its…

Florida recreational marijuana effort clears crucial hurdle

While it still faces a Florida Supreme Court review and an expected legal challenge from state Attorney General Ashley Moody, amendment supporters heralded the breakthrough. TALLAHASSEE, Fla. — The effort…

Texas Companies Look to the Future After Cannabis Bills Fail

In the aftermath of the Texas Senate’s failure to advance two hoped-for cannabis bills during the recently concluded 88th legislative session, cannabis companies in the state have no choice but…

More Categories

Back To Top
×Close search