What will 2019 look like for the cannabis industry
Last year was like no other for the marijuana industry. Previously considered a taboo topic, cannabis broke through as a legitimate business model in 2018 with the legalization of recreational weed in Canada this past October. When growing capacity is fully up to speed by the early part of the next decade, the industry could be generating in excess of $5 billion in sales per year.
It also was a year of success in the United States, despite the fact that marijuana remains a Schedule I (i.e., wholly illegal) drug. Missouri and Utah legalized medical pot, with Vermont and Michigan giving the green light to adult-use weed. In total, 32 states now have legalized marijuana in some capacity, with 10 allowing adults to use the drug.
Of course, the big question is what will 2019 hold for the cannabis industry, particularly in the United States where, according to Gallup, a record 2 out of 3 American adults now want to see pot legalized. That’s up from just 25% in 1995. If a new bill proposal out of Oregon is any indication, the marijuana industry could see significant advances in the United States.
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