The legal weed business is growing even faster than most people thought it would when certain U.S. states started legalizing recreational marijuana a few years ago.
Tag Archives: ArcView Market Research
OAKLAND, Calif., Nov. 16, 2017 /Weed Wire/ – A new report released today shows that licensed marijuana stores are as profitable as Starbucks stores, if only they were taxed at the federal level like Starbucks.
OXNARD, Calif., May 31, 2017 /Weed Wire/ — CURE Pharmaceutical (OTCQB: CURR), (“CURE”), a leading disruptive drug delivery technology and pharmaceutical cannabinoid molecule development company, announced today that the company’s partnership with CannaKids has entered into a strategic research collaboration with Technion Research and Development Foundation Ltd., a wholly owned subsidiary of the Technion Israel Institute of Technology, in order to research how different cannabinoid compounds within cannabis strains can be used to treat various subtypes of cancer.
The cannabis industry seems unstoppably ascendant at the moment. Medicinal marijuana is now legal in 28 states plus D.C., while recreational marijuana is legal in nine states plus D.C., which opens the doors for a lot of new business opportunities.
North Americans spent $53.3 billion on legal, illegal, and medical marijuana in 2016, according to a Jan. 17, 2017, release from Arcview Research Group. That’s more than people in the United States spent on McDonald’s and Starbucks combined.
The state legislature and health department have six months to revise current rules and must implement them within nine months.
For now, CannaRoyalty is also the only option for Canadian investors to gain exposure to the U.S. recreational marijuana market.
With several states passing measures to legalize marijuana in 2016, the cannabis business looks poised to finally to take off. But for investors, there remains a quandary: How do you find a way to get in on the ground floor of this new growth industry?
The legal use of marijuana could increase substantially by the end of the year as several U.S. states, including California, vote on its use for recreational or medical purposes. This could open new markets for insurance coverage in areas including property and casualty and health.
A fully developed legal market for medical marijuana in Michigan could lead to millions of dollars in new state tax revenue.
As voters in more states embrace legalized marijuana sales, the burgeoning cannabis industry has gone from a curiosity to a bona fide booming market.