Cannabis Industry Outlook 2017: New States, More Regulation, Education, Potency
As the year comes to a close, the Cannabis Business Alliance (CBA) reviews the highlights of 2016 and provides an outlook for 2017.
Enormous growth
Colorado, the first U.S. state to legalize cannabis for adult-use, has already reported selling more than $1 billion in marijuana and marijuana-related products in the first 10 months of 2016, with the state on track to see a $3 billion economic impact for 2016. Additionally, Colorado’s 2016 tax revenues are projected to total more than 2014 and 2015 combined. Throughout the country, cannabis prohibition continued to be rolled back, with more states legalizing marijuana in 2016. Earlier in 2016, Ohio and Pennsylvania legalized medical marijuana, and Illinois decriminalized the plant. November’s election results found four states voting positively to approve cannabis for adult-use (California, Maine, Massachusetts and Nevada), and four states voting to allow Medical Marijuana use (Florida, Arkansas, North Dakota and Montana). These new additions...
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