Marijuana is becoming one of the most divisive topics in our nation as more and more states begin to see marijuana legalization on the ballet each November. Nearly half of all Americans have tried marijuana with around 52% of Americans believing that recreational and medicinal marijuana alike ought to be legalized. Citing examples such as legal alcohol, around seven out of ten Americans believe that alcohol is more dangerous to the health of individuals and society than marijuana. There are currently 23 states plus the District of Columbia that have legalized medical marijuana and a handful of states that have legalized recreational marijuana — here are some facts on the marijuana industry to help shed some light on this growing national movement.
Fighting Upstream
Although 76% of doctors approve marijuana for medical use in a variety of applications, a significant minority of studies on marijuana are focused on the drug’s medicinal applications; thankfully the American Food and Drug Administration (FDA) is currently performing objective research on the plausible benefits of nearly 20 cannabinoids to help patients suffering from everything from cancer to post-traumatic stress disorder. The lack of significant medical studies on marijuana is due primarily to the deeply politicized history of marijuana in the United States. Since marijuana was primarily introduced by Mexican immigrants during the 1930s, propaganda like “Reefer Madness” was produced to demonize marijuana at a time when the Great Depression threatened to limit the number of jobs available — jobs that many feared would have been taken by the marijuana-cultivating Mexican immigrants. Only now as a society have we shed this xenophobic propaganda as we objectively turn to marijuana as a solution instead of a problem.
Marijuana Profits
Aside from the medical benefits of marijuana, many states that have legalized the drug have collected an abundance in taxes from the plant. The state of Colorado had retail sales of marijuana that valued around $18.9 million in state taxes from January to June of 2015 according to the state’s Department of Revenue. Likewise, Washington has seen profits as well; when the state legalized recreational marijuana on July 9th, the collected an estimated $3 million on sales as of September 8th. Sales taxes vary based on the state, Washington employs a 25% tax on marijuana. It is estimated that if all 50 U.S. states legalized marijuana today, the nation would collect over $3 billion a year in taxes from marijuana alone — this is money that can fund education, infrastructure, and help generate American jobs.
Investing in the Marijuana Industry
Although the marijuana industry can be likened to a goldmine, it pays to first familiarize oneself with state legislature before licensing a marijuana business. There are a number of medical marijuana consulting investment opportunities available on states where medical or recreational marijuana has been legalized; partnering with medical marijuana consulting agencies can help growers, distributers, and retailers partner up with each other while ensuring that the logistics are taken care of. Professional medical marijuana consulting can help individuals launch their business or improve an existing business with products, tips, and strategies for each stage of the marijuana industry. Whether an amateur botanist or the proud owner of a dispensary, trusted recreational and medicinal marijuana consulting is available to help you thrive in this quickly-growing field.