California’s marijuana laws have recently changed making the recreational use of cannabis legal, national support for cannabis legalization is at its highest, and more than half of the country has legalized it in at least some form. As a result of this evident growth of the cannabis industry, marketers and investors are gaining substantial interest. Even though it is considered a Schedule I drug under federal guidelines, the $7 billion marijuana industry is one that is highly attractive to current investors.
As a result of the Marijuana Act that was passed on the November ballot in California, any adult who is of age can legally possess up to one ounce of marijuana and six marijuana plants. Many other states are legalizing marijuana for both medical and recreational purposes.
There are some top reasons why investors want to are looking to the marijuana market:
- The industry is projected to rise still. If marijuana becomes legal at the federal level, the cannabis industry will be a worthwhile investment. It is currently projected that legal marijuana sales will reach $20.6 billion by 2020. By capitalizing on this opportunity before competition becomes too intense, investors will likely see a sizable return.
2.As legalization grows, banking issues will be non-issues. If marijuana becomes legal at the federal level, the banking issues associated with the marijuana industry will not be matters of concern. Once use of the federal banking system becomes a reality, investors can gain confidence in this industry.
3.This is only the beginning. There are countless possibilities for growth in regard to the marijuana industry. Even if you do not want to invest in the plant in general, there are a wide array of products and services that an investor can pursue instead.
Want More Information?
If you are interested in knowing more about investing in the marijuana industry, we encourage you to speak with our San Diego cannabis business law attorneys. We can help you get started today!