This is the new GOLD RUSH!
Nothing on Earth today – and I mean nothing – is growing as much or as fast as the market for legal marijuana and everything around it. Not smartphones or software, not automotives or aerospace, not biotechnology, real estate, gold, oil, software… nothing. This Greenrush is going to create and already has created marijuana millionaires legally. Consider this: By 2020, the market for legal marijuana will top $22.8 billion.
When that happens, the legal market for cannabis “could be bigger than the National Football League, which saw roughly $12 billion of revenue last year,” according to Fortune. In the United States alone the sanctioned market for cannabis will reach $7.1 billion this year, up from $1.5 billion in 2013 – 373% growth in barely three years. Investment bank Ackrell Capital predicted in March that between 2016 and 2029 the market for marijuana will reach $100 billion – 1,308% growth. Amazingly, those huge numbers hide the fact that this market is a market still in its infancy. After all, marijuana is still illegal in most of the U.S.! For that reason, there’s no accurate way of really knowing just how big this market could ultimately be. Some estimates place the number of some-time marijuana users in the neighborhood of 50 million people. As many as 7.6 million indulge on a daily basis.
According to researchers from ArcView, a highly respected Silicon Valley cannabis market research group, there’s “a 92.8% chance” that 26 or more U.S. states – a clear majority – will allow legal cannabis in one form or another before the year is out. And a growing chorus of voices demands that cannabis be legalized once and for all at the federal level. What’s more, the drive to legalize cannabis is gathering strength outside the United States as well. In May, a website called Extract Sun Times reported that “demonstrators in 829 cities in 72 countries” took part in the Global Marijuana March to legalize cannabis.
For a snapshot view of how this unstoppable trend is developing, we can look to the state of Maryland, which allows medical marijuana and began decriminalizing adult-use recreational cannabis in 2014. The Washington Post reported in June that “Cannabis sales in Maryland would total $9.7 million the first year, likely starting in mid-2017, and reach $60 million by 2020. Those projections will increase as Maryland loosens restrictions.” There’s a very interesting wrinkle to this story. You see, when Maryland began accepting application for marijuana licenses, in order to make the process fair, they concealed from the reviewers any personal information that could reveal who was applying. The Post’s story revealed that “The people lining up to profit from Maryland’s legal medical-marijuana market include former sheriffs and state lawmakers, wealthy business executives and well-connected political donors.” The list of folks applying for the right to produce and market cannabis included one man who still runs a minimum-security jail in the state, and another who headed up Maryland’s Fraternal Order of Police. In other words, it isn’t your stereotypical “stoner” who’s lining up to get a piece of the cannabis pie. The industry is attracting men and women who we’d consider upstanding members of the community. This “mainstreaming” of marijuana is also happening in Massachusetts. The Boston Globe reported in March that legal weed in that state could bring in as much as $1.17 billion in revenue. And just like in Maryland, marijuana’s proponents are drawn from the very heart of the mainstream.
“More than 100 entrepreneurs, venture capitalists, advocates, and others gathered for a cannabis industry meet-up held at Microsoft’s NERD Center in Cambridge. Venture capitalists in suits grilled a parade of local startups on their business models.”
And if you need more proof that marijuana is going mainstream, consider this…
“Nothing is more mainstream than the TV sitcom. On July 13 Variety revealed that Netflix is planning to air a sitcom set inside a legal pot dispensary. Called “Disjointed,” the show is the brainchild of TV genius Chuck Lorre, creator of such mainstream blockbusters as The Big Bang Theory and Two and a Half Men. Finally, two unprecedented catalysts are about to push the market for legal marijuana further into the mainstream
and up into the jet stream. The first of these could happen within days of your reading these words.
Your Pharmacy May Soon Carry Cannabis
You see, since 1972, marijuana has been classified as a Schedule I controlled substance. Schedule I drugs are those considered to lack medical use and present a high potential for abuse. As a Schedule I drug, marijuana gets grouped alongside heroin, LSD, and ecstasy. But in the face of mounting pressure from the doctors, medical researchers, state governments and Congress, the Drug Enforcement Agency (DEA) have come under pressure to downgrade marijuana to a Schedule II drug, or maybe even a Schedule III.
In fact, the DEA recently held a landmark vote that, had it passed, would have done just that. It’s impossible to exaggerate the impact a shift like this would have on the market for cannabis and for the fortunes of investor who buy in early. Right now medical researchers are only allowed to legally purchase the marijuana they need for their studies by going through the National Center for Natural Products Research at the University of Mississippi. This restriction makes it extremely difficult for researchers to study marijuana and to develop drugs and treatments from it. A reclassification of weed would make it exponentially easier for scientists to obtain cannabis and would remove the legal hazards of obtaining it. A natural outcome of this more permissive environment would be for pharmaceutical companies to ramp up their research efforts around cannabis. This added demand for marijuana could initially put an extra $1.5 billion into the pockets of cannabis growers nationwide who will suddenly have new markets for their product. And even though the DEA did not reclassify marijuana, it could do so the next time around. After all, mainstream voices are calling for this reclassification. For example, the American Medical Association (AMA) told ABC News in April that it supports the DEA’s review in order “to help facilitate scientific research and the development of cannabinoid-based medicines.” And according to online reporter Andy Szal of Manufacturing.net, “Despite the recent DEA decision, signs of the federal government loosening its restrictions on marijuana remain prevalent. One day before the DEA announcement, the Obama administration indicated that it would allow many more U.S. universities to conduct marijuana research.”
All around the world countries are looking to decriminalize or even legalize marijuana. Even Canada is evaluating making it legal for adults nationwide!
This is an unstoppable trend! Millionaires are already being made in the Green Rush. You can jump on the bandwagon now or wait on the sidelines and say ‘I wish I had.”
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Thanks for stopping by, Dennis Darragh