(PRWEB) April 26, 2018
As of today, cannabis is legal for medicinal purposes or for adult use in 29 out of 50 states in America. Although the cannabis industry is young it is rapidly evolving and is on the precipice of becoming mainstream. Legal marijuana sales were nearly $10 billion in North America in 2017 according to a new report from industry analysts ARCview Market Research in partnership with BDS Analytics. Each day additional investor capital is entering this market. At city and state levels legalization is spreading before our eyes – it would not be surprising in the very near future if all forms of cannabis become legal on a national level.
Andrew Glashow, member of the Board of Directors for Cannabis Life Sciences USA, Inc (CLS), has played a significant role in directing all growth initiatives, particularly mergers and acquisitions and capital markets activity for the company. CLS is on the cusp of becoming a diverse and integrated cannabis company. The company is focused on cultivation, conversion and extraction, and dispensaries.
“In the next two to three years we can expect to see some form of cannabis legalization in at least 40 states. I would also not be surprised in the next five years to see some form of federal legislation,” said Andrew Glashow
Economically, the legalization of cannabis creates a booming industry. In 2017, in a matter of just eight short months Colorado alone eclipsed $1 billion in sales. By the end of 2017, the industry across the entire United States was estimated at more than $7 billion.
The cannabis industry is on the verge of becoming regulated, similarly to alcohol and tobacco. Through legalizing, taxing, and regulating marijuana, we can expect major impacts on society in its entirety.
According to Harvard Medical School, cannabis has numerous medicinal benefits. First and foremost, it helps individuals manage many disease states, from cancer to glaucoma, arthritis, and more. Medical marijuana is a meaningful alternative for those looking for something other than opioids. Legal, medicinal cannabis products are what individuals with health needs can turn to for managing their pain and other symptoms.
In terms of recreational or adult use, criminalization of cannabis use derives from the War on Drugs. Although this plant has been used for many years, the black market has tragically damaged its reputation. As authorities target poor communities, poverty only increases from felony convictions. From an economic standpoint, crises are created from these arrests, and they not only affect individuals, but families, jobs, housing, and more.
As eyes turn towards this industry to see how Jeff Sessions’ latest rescinded policies from the Obama Era affect states that have already legalized cannabis, we can still expect to see more states join in legalization. More than half of both Democrats and Republicans stated that they are in favor of legalizing cannabis. It is expected that these numbers will only increase in the coming years.
With his passion and profession firmly behind this industry, Andrew Glashow leaves us with a few final notes on medicinal cannabis:
“It is scary to watch so much of the population be killed by opioids and by illegal drugs. It’s upsetting. The purpose of legalizing cannabis is to eliminate the black market. To create a market where people get real medicine through proper procedures. No difference than buying something in the store. You know what you’re getting–you’re getting a clearly stated product.”
The United States is still only in the beginning stages with this increasing industry. Will this industry be legal on a national scale for medicinal purposes in the next few years? Industry professionals have their highest hopes towards that answer being yes.