The New Cash Crop

One of the biggest economic developments happened last November, when recreational Marijuana was legalized in Massachusetts, California, Nevada, and Maine. Now, twenty-six states, and Washington DC, have legalized at least some form of cannabis consumption.

This is a huge deal, as legalization continues to spread throughout the US, the cannabis industry is going to explode. Especially in states like California, which is the sixth largest economy in the world. The projected worth of the industry sits around $50 billion.

Right now a majority of the business is controlled by small business. Large scale companies from Big Pharma, and Big Tobacco haven’t taken advantage of the expanding industry to Federal Regulations, but we can expect their interest and involvement as cannabis advocates continue to decriminalize, and legalize the market.

With a lot of money on the line, we can expect an aggressive play from larger companies who have interest in the cannabis industry. Now is the time for small business owners, in the market, to stake their claim in the market, define what the market stands for, and create a community that has the industry’s best interest at heart.

-This Wild Idea

Sources:

https://www.bloomberg.com/news/articles/2016-09-12/cannabis-industry-to-expand-to-50-billion-by-2026-analysts-say

http://www.businessinsider.com/marijuana-states-legalized-weed-2016-11/#2-california-2


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