Will the Marijuana Industry Ever Go Green?
Growth expectations over the long run for the marijuana industry are practically unsurpassed by any other industry in America on a percentage basis. Today, 28 states have legalized medical cannabis, and another eight (along with Washington, D.C.) have legalized recreational adult-use pot. This translates into a $6 billion legal industry right now, according to investment firm Cowen & Co., but it could be a $50 billion industry by 2026. That's a nearly 24% compound annual growth rate over the next decade, for those of you keeping score at home.
Growth rates like this are bound to turn heads, from entrepreneurs and investors looking to get rich to local and state governments aiming to fill gaps in their budgets with extra tax revenue. But the rapid growth of the marijuana industry has had ancillary effects as well, some of which are not so great.
Electricity demand is soaring because of legal...
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