The greatest innovation in history
Nothing on Earth today (and I mean nothing at all), no smartphones, cars, aerospace, real estate, gold, oil, software, biotechnology, nothing… is growing as much or as fast as the legal marijuana market.
Consider this: By 2020, the legal marijuana market will be $22.8 billion (not million, but billion with a B). The legal cannabis market “could be bigger than the National Football League, which generated $12 billion in revenue in 2015. Between 2016 and 2029, the projected growth of marijuana is expected to reach $100 billion – a growth rate of 1.308%.
Estimates place the number of sometime marijuana users near 50 million people. No fewer than 7.6 million enjoy it every day. Of the 83.3 million millennials, 68% want cannabis legal and available. Once legalization takes hold, dozens of already established companies – in the tobacco industry… in agriculture and irrigation… in pharmaceuticals – will jump in without hesitation. And if you want more evidence that marijuana is going mainstream, consider this…
On November 8, tens of millions of Americans in nine states went to the polls to vote on the future of marijuana. California, Massachusetts, Maine, and Nevada voted to legalize the recreational use of marijuana. And voters in Arkansas, Florida, North Dakota, and Montana have passed ballot initiatives that legalize medical marijuana. Only Arizona, where recreational cannabis was up for a vote, decided against legalization. Together, these states (excluding Arizona) represent a total population of 75 million people. That means one in five Americans — 20% of us — woke up on August 9 to find themselves in a state where medical and recreational marijuana is legal for adults 21 and older.
Even Hollywood celebrities join in. Many people already know about the cannabis-related business of Snoop Dog, country legend Willie Nelson and actor and comedian Tommy Chong. Less know that Grammy Award-winning singer Melissa Etheridge is developing her line of cannabis-infused wine, and TV talk show host Whoopi Goldberg is launching a line of medical marijuana products aimed at women. And people listen to Hollywood icons. Nothing is more mainstream than the TV sitcom.
What has changed since cannabis was legalized?
On July 13, 2016, Variety revealed that Netflix plans to air a sitcom in a legal cannabis dispensary. Called Jointed, the show is the brainchild of TV genius Chuck Lorre, creator of mainstream blockbusters like The Big Bang Theory and Two and a Half Men. A recent Quinnipiac University poll found that 89 percent of voters in the United States believe that adults should have legal access to medical marijuana if a doctor prescribes it. And the US isn’t the only country poised to let go of the reins of marijuana. Israel, Canada, Spain, Mexico, Australia, Uruguay, Jamaica, Germany, and Colombia have legalized or decriminalized property.
Since 1972, marijuana has been classified as a Schedule 1 controlled substance. Schedule 1 drugs are drugs that are believed to have no medical use and have a high potential for abuse. As a Schedule 1 drug, marijuana is grouped alongside heroin, LSD, and ecstasy. But under mounting pressure from the doctors, medical researchers, state governments and Congress, the Drug Enforcement Agency (DEA) has come under pressure to downgrade marijuana to a Schedule II drug, or perhaps even a Schedule III.
According to the US Census Bureau, by 2030, one-fifth of the population — 72 million Americans — will be 65 or older. Those baby boomers will all face a slew of age-related ailments, including glaucoma, cancer, arthritis, and back pain. Cannabis-based remedies are ideally suited to treat those diseases. So, as the elderly population grows, so will the size of the medical marijuana market. Social acceptance of cannabis will also increase as millions of people discover the benefits of medical marijuana for themselves.
A single marijuana dispensary could bring in more than $676 million a year. Not all that money comes from weed itself. Most people have already heard about things like ‘pot brownies’. But the marijuana “edibles” market goes beyond that. There are weed desserts and weed energy drinks. We are even about to see the opening of the world’s first weed distillery.
For those averse to smoke inhalation, there are sites that offer THC-loaded capsules, lip balms, hashish bath oils, topical compounds, and even THC patches that provide “accurate dosing… a quick onset and unbeatable duration.” “. Thirsty users can enjoy THC infused coffee, soda and sparkling water. Aside from the recreational cannabis market boom, medical marijuana and derivatives have also seen solid growth, and for good reason.
Cancer patients undergoing chemotherapy and radiation usually lose their appetite and have a sensitive stomach. But if they don’t eat, the treatments aren’t as effective. Cannabis has been proven to stimulate the appetite and soothe the stomach. There is also new work being done on cannabis oil that shows promise for the treatment of epilepsy, multiple sclerosis, some cancers and even rheumatoid arthritis. The oil is also effective for insomnia.
For most of the 20th century, doctors knew little about how our most important organ, the human brain, works. Brain cells almost dictate one of our feelings, thoughts and actions and send signals that trigger appetite and hunger. Marijuana seems to bridge the gap. Voters in state after launch quickly come to an agreement that cannabis is, in fact, medicine. The momentum is only going in one direction.