The Legal Marijuana Business is Booming

The Legal Marijuana Business is Booming

While marijuana is illegal based on United States federal law, that has not stopped citizens in the business from growing profits. Despite the administration in Washington D.C., a good portion of states have laws supporting marijuana.  Nine states in the union, as well as the District of Columbia, have passed laws legalizing personal use. Beyond this, 30 states have passed laws allowing the legal use of marijuana for medicinal purposes.

The Marijuana Business is Good

 

According a CNN Money news report, the marijuana industry has created $9 billion in sales in 2017. This amount is equal to the entire snack bar industry’s gross annual revenue. That amount,  was before the state of California opened its marijuana retail sale market this year. It is estimated this number will rise to $11 billion in 2018 and double by the year 2020. The legal marijuana industry has also created a number of jobs, which is about 9,397 jobs. This number includes positions in the industry such as manufacturers, cultivators, dispensaries, retailers, distributors, test labs, and deliverers.

 

Marijuana has also been made in other forms. The products that are being offered range from the traditional flower to processed products. This includes oil, resin, and hash, which can be vaped or smoked. Also, the legal marijuana industry offers a wide variety of edibles including gummies, candies, and baked goods.

 

Marijuana and Cannabis Law

 Cannabis law is an ever-evolving aspect of the legal marijuana industry. That being said, before an attorney decides to enter into this area of the law, he or she should consider several factors, including the disparities between state and federal laws addressing the issue

 

 

 

 

 

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