We have discussed in this column the explosive growth of the cannabis market, fueled by technology, a receptive market and legislative developments. But there is growing murkiness from the Administration about throttling this growth.
But first, some perspective. The cannabis industry now rivals the retail market for frozen pizza and ice cream. As reported by Eli McVey, with revenue of at least $4 billion, sales of legal recreational and medical marijuana in 2016 topped those of Viagra and Cialis, paid music streaming services, tequila and Girl Scout Cookies. Sales of legal cannabis will likely increase by 28%-35%, pushing revenue to more than $5.1 billion.
Nonetheless, word comes from Washington of reports that Attorney General Jeff Sessions is looking to crack down on the medical marijuana businesses. Experts in the business had some pithy responses.
– Read the entire article at Forbes.