The cannabis industry is growing at an exponential rate in the U.S. with the expectation that it could reach a $50 billion valuation in the next 10 years.
This is 8 times the current value according to a recent article from Bloomberg. Who have said “Legalizing recreational use in California, where the drug is already medically permitted, is on the ballot in November, and approval of that measure alone would triple the size of the nation’s current $6 billion legal industry”
Alaska, Colorado, Oregon, Washington and the District of Columbia have already legalised cannabis for recreational use and it is legal for medical use in 25 states total.
It is though that many companies are shying away from getting involved in the cannabis industry as it is still illegal on a federal level but a report from Cowen & Co has said it assumes it will soon be legalised due to more than 50 percent popular support.
One of the big losers with the explosion of the cannabis industry is alcohol, with its consumption declining over the past five years, with the growing interest in recreational cannabis. The number of drinkers who are also using cannabis has increased, while the number of cannabis users who drink alcohol is decreasing.
There is not only the recreational side of things to focus on, cannabis in it’s many forms has also been proven to have great medicinal properties treating a range of ills from epilepsy to cancer. It is also being used effectively for a range of mental health issues and as an effective way to manage pain.
The most researched cannabinoids are THC and CBD-
CBD or Cannabidiol is a non psychoactive compound in cannabis found in Indica dominant strains. THC or Tetrahydrocannabinol is the psychoactive compound found in Sativa dominant strains. There are still around 80 less researched cannabinoids which could very well hold medicinal properties.
With the growing financial interest mounting it would be assumed that more funds will be made available for the research and trials of the medicinal uses of cannabis. We will see how things unfold over the next few years, but it is an exciting time for those who have been singing the praise of cannabis and a strong economy is now being born as a result. Much love, Luke
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