It is no secret that the legal framework concerning Cannabis in the Unites States of America is rapidly changing the last years. The cannabis industry is now the fastest growing industry in the United States. California seems to be the leader in Cannabis sales compared to the other States. There is far more legal marijuana sold in California than Colorado and Washington.
Since more than have the voters in California approved the marijuana legalization measure, known as Proposition 64, on November last year, the adults in California can grow their own cannabis plants and use the drug in their homes. The new law is called the Adult Use of Marijuana Act or AUMA.
State agencies are now designated to impose taxes at the retail and cultivation level of marijuana, license marijuana and regulate it. But recreational shops will not be able to function until January 2018. Before then, you still need a doctor’s prescription to get medical cannabis until that time.
The Dispensaries are popping up and there is a whole new market that consists of new services and new jobs. As the Marijuana market comes out from the underground to legitimate distribution, new eras in the consumption of marijuana is beginning. In a lot of states, marijuana is gaining more and more acceptance on various levels.
Different legal age groups have started discovering the marijuana market for themselves. New products are being tried out and new ideas are being converted to products for sale.
Marijuana edibles, high end concentrates and tourist related marijuana spa and tours are a few of the blooming ideas. The competition is also on the increase as more people enter the market to take a share of a fast-growing sector in the economy. Marijuana marketing is more advanced than ever before due to increased competition.
Although the legalization of marijuana could take a different turn during Trump’s presidency, another big headline in the cannabis industry in the US was the New York Stock Exchange’s approval to list a marijuana company on its exchange for the first time
Research by marijuana market research firm, the Arcview Group has shown that the state of California makes up more than 25% of all legal marijuana sales in all 50 US states plus Canada.
Well-established medical pot markets in many states still account for much of the country’s legal marijuana sales, but recreational marijuana sales is expected to help fuel the cannabis market’ s soaring growth over the next few years.
The biggest driver of growth in coming years is sure to be new laws being passed by states.
There is a possibility that in the future, marijuana dispensaries will be replaced by online shops where the products will be delivered straight to consumers.
In 2015, Americans spent at least $5 billion on legal recreational and medical cannabis.
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