The Growing Cannabis Market Is An Excellent Business Opportunity

The Growing Cannabis Market Is An Excellent Business Opportunity

In the United States, today the change in the legal status of cannabis has created very lucrative business opportunities. And everyone from marijuana collectives to state and local governments to pharmaceutical companies to Snoop Dogg and other celebrities are positioning themselves to take advantage of it. That’s because there is a vast underserved cannabis market that has been longing to be able to legally use the herb. Some of those people want medical cannabis to treat a wide array of ailments while others simply want access to cannabis for recreational use. Gradually people in both groups are getting their wish.

Today the District of Columbia and 25 states allow the legal use of cannabis. And movements to create legalization or at least decriminalization of cannabis are underway in about 10 more states and countless other jurisdictions. Colorado and California have seen large increases in tax revenue by allowing cannabis dispensaries to operate in their states and taxing them. Colorado earned so much tax revenue from cannabis they were able to give their citizens a tax rebate. Many other struggling communities have looked at Colorado’s success and are considering doing the same thing.

As the movement to legalize cannabis for medical and recreational use begins to spread across the country, a number of large corporations are seeking ways to get in on the action. Some of them are seeking permits to cultivate, process and distribute cannabis, while others have become involved in the cannabis edibles industry. All of them stand to make billions of dollars as the legal cannabis market continues to grow. A number of well-known celebrities have also thrown their hats into the ring and have begun to market cannabis themed products. The only problem is the federal laws prohibiting the growth, transportation, sale and use of cannabis.

While many states and local communities have defied the federal government and legalized cannabis in their jurisdictions, many think it’s just a matter of time before the Feds legalize and tax cannabis. In the meantime, the cannabis market continues to grow and create a thriving black market economy valued at tens of billions of dollars annually. Many had hoped President Obama, an admitted former cannabis user, might have been the one to legalize it nationally. However, with so much money to be made by businesses and government, national legalization of cannabis may not be far off.

With the acknowledgement and embracing of medical cannabis leading the way, the pressure from the states, local jurisdictions, the medical community and business interests may force the passage of cannabis legalization laws. There are millions of sick people in the United States that risk arrest every day to purchase and use cannabis to ease their pain. But getting their cannabis from illegal, unregulated sources is not the long-term solution. Ideally, the federal government can set and enforce quality standards for cannabis and regulate its sale and use to ensure patients get a safe product to address their medical needs.

‘The business of America is business’ a wise man said long ago. And it’s still true today. With so many people and businesses poised to benefit from the growing cannabis market whether it’s through offering medical assistance or letting people purchase e nails, it seems that eventual cannabis legalization is a foregone conclusion. In the meantime, patients and recreational users will continue to do what’s necessary to meet their need for cannabis and business leaders will wait for the opportunity to capitalize on it. In the interest of bolstering the American economy while protecting citizen’s cannabis legalization seems like the obvious answer.

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