Who doesn’t relish some good facts and stats? Especially about our beloved cannabis industry!
Until fairly recently the cannabis industry was an underground and illegal industry. But that has been changing over the last decade. Today this industry is no longer seen as a joke or a criminal enterprise and the facts and statistics show that the industry is gaining legitimacy at a very fast pace. This is in spite of the fact that the federal government refuses to recognize any medical benefits from marijuana.
Even the White House Office of National Drug Control Policy perpetuates the myth that marijuana is a dangerous drug. They stubbornly continue to refuse to evaluate the schedule classification for this plant. In spite of the opposition, the cannabis industry has continued to grow and succeed as more Americans start examining the truth for themselves and stop falling for the hype and propaganda that surrounds marijuana.
Some of the most interesting facts and statistics about the cannabis industry include:
The cannabis industry is one of the fastest growing industries in the USA today. This single industry saw a 74% in growth in the year 2014 alone, and this increase is expected to continue as legalized marijuana use gains in acceptance and popularity.
In addition to the legalization of medical marijuana there are states which have also legalized the recreational use of this drug for adults who are 21 years old or older. So far, four states as well as the District of Columbia have legalized recreational marijuana use, and 23 states allow marijuana use for medical purposes. These changes in state laws have helped the growth of the cannabis industry. The new and revised laws show that people are finally starting to realize that this drug can have legitimate uses.
While the cannabis industry is legitimate in states where marijuana use for medical or recreational purposes has been legalized, cannabis businesses have had problems with banking because of the federal government. Many financial institutions will not accept deposits or open accounts for cannabis businesses.
The history of the cannabis industry shows that the movement to legalize marijuana use started at a grass roots level, with activists and small marijuana advocacy groups pushing for change. These activists saw the injustice of prosecuting and incarcerating people for using a natural plant that has been safely used for thousands of years based on morality laws.
In the early stages, the Clinton Administration made large efforts to shut down the marijuana industry in California, with federal agencies raiding cannabis industry businesses in the state. Few people were willing to take this kind of risk so the industry stayed stagnant for a time. Eventually more states passed medical marijuana laws and this changed.
By the end of the year 2009 there were over 1,000 medical marijuana dispensaries in the city of Los Angeles alone. Laws have been changed thanks to cannabis advocacy groups such as NORML, Marijuana Policy Project, and Americans for Safe Access to name just a few.
Many people have benefited from medical marijuana, and this includes children as well as adults. In fact, one specific strain of marijuana called Charlottes Web was developed specifically for children who have certain seizure disorders. The strain is low in THC but it has high percentages of CBDs and it is used for children like Charlotte Figi.
The prohibition against marijuana has not worked, just as alcohol prohibition failed. There’s still a stigma associated with the cannabis industry but this stigma is finally fading away as the medical and therapeutic benefits of marijuana are proven in study after study. Eventually cannabis businesses will operate just like any other.
According to financial and industry experts the medical marijuana industry in the USA is worth an estimated $1.53 billion and that number is expected to increase. In fact, an ArcView report shows that in a decade this industry is expected to be worth around $10.2 billion.
Have any more facts and stats about the cannabis industry? Let us know in the comments below.