WeedLex
Sep 17, 2016 9:25 AM

Cannabis Industry Will Rise to $50 Billion Over Following Years

A mainstream investment bank has recently presented a forecast that states the marijuana industry is going to grow eight times its size reaching up to $50 billion over the next decade. The rapid growth of the industry will be triggered by the legalization of cannabis and the reduction of the black market.

The report was provided by Cowen & Co., a New York investment bank founded almost a century ago, so the prediction will probably give the marijuana industry additional credibility and legitimacy. Moreover, this November, up to ten states will be voting on the legalization of either medical or recreational cannabis.

Cowen’s prediction states the government will legalize cannabis. Although the restrictions in marijuana industry have existed for more than eighty years, state cannabis-related policies are now easing, which will inevitably lead to federal legalization.

According to Bloomberg, Cowen stresses that a 24 percent total annual growth rate in as little as ten years is hard to find in consumer staples.

Let us remind you that last year, Merrill Lynch, the investment banking branch of Bank of America, presented a report about marijuana that contained basic information about it, the benefits for some medical conditions, excerpts from state medical cannabis laws, and the results of public surveys about marijuana.

Comments
How Newest Technologies Affect Marijuana Industry
Our days are the perfect time for high technologies to get even higher by all means and partner with the cannabis industry. Half of the states in the U.S. have already legalized marijuana on a local level for either medical or recreational use or both.
Aug 30, 2016 9:35 AM
Top-5 Creative Ways to Smuggle Weed Across the Border
Illegal shipping of drugs annually brings millions of dollars to drug dealers. The situation at the U.S.-Mexico border is a never-ending battle between smugglers and security officers. With the development of security measures, Mexican dealers find new and unexpected ways to ship drugs.
Aug 21, 2016 9:45 AM
States That Legalized Recreational Weed to Become Silicon Valley of Cannabis?
Microsoft is already a part of the legal cannabis business, and there are rumors that Google might make a similar move. So, who is next to join the controversial marijuana business and is there any chance for one of the recreational marijuana states to become the Silicon Valley of cannabis?
Jul 14, 2016 9:10 AM