Legalized marijuana – a would be trillion dollar industry in the current market
A lot has changed over the past years in the industry of legalized cannabis. There have been discovered many advantages and disadvantages of smoking weed. Ballot system has been used in 10 states to legalize the use of cannabis for medicinal purposes and some have even legalized the recreational use of cannabis. The largest marijuana business news was provided by Canada and California this year. Canada walked to defy the international treaties while California walked to set up the largest legal market for cannabis in the world.
But the global industry is not just limited to these two places. Marijuana business news has been flowing in from multiple corners of the earth, especially for its medical benefits. Though the federal law still classifies marijuana as an illegal drug, the states are walking towards bringing in their own reforms. Marijuana is currently a billion dollar industry that will expand even more in the years to come.
Benefits of medical marijuana
Marijuana has found significant applications in treating a lot of medical conditions including diabetes, high blood pressure, hypertension, insomnia, pain relief, and a lot of other conditions. Having a legal medical license provides easy access to the individuals for medicinal cannabis but its recreational fame is gaining much more importance.
A lot of regulating frameworks are being developed across the states to maintain the usage of marijuana in the current society. But some of the states have also established liberal laws to boost the business even further. But things are yet not enough to lock down the black market and the border fights among the states. This is harming the legal businessmen who are working to make the legal marijuana industry one of the largest grossing industries in the entire market. The business is generating huge revenues and the states have earned billions just over the past couple of years with the federal laws yet to legalize marijuana on a national scale. CBD products have been made available throughout the nation after the legalization of hemp this year. CBD is one of the active components of marijuana that has a lot of health benefits of its own.
The rise of the industry
What is contributing to the steep rise of the industry is the lack of a stated overdose. Unlike alcohol or other drugs, especially the opium-based narcotic products; marijuana has little to no impacts when it comes to health issues. Moreover, it has a lot of health benefits that have contributed to the rising craze of medicinal cannabis usage. Joints, bongs, vapes, and edibles are now being legally sold in many states and have earned quite a recognition. A lot of licensed dispensaries are being set up and a lot of farmers are working to meet up the industry demands. It is expected to turn into a trillion dollar industry soon over the next few years as more countries work to legalize the use of marijuana in their jurisdiction.