Recent estimates from New Frontier Data show the cannabis industry growing at an expansive rate, with both politicians and the public shifting their perceptions on what once was considered a taboo subject. The U.S. Cannabis Report: 2018 Industry Outlook, presented by the data analytics organization this month predicts the legal marijuana market to hit $25 billion by 2025, presuming a compound annual growth rate of 14.7 percent for the industry. Although marijuana stocks have dipped this year, worldwide acceptance of cannabis has grown, making it hard to argue with such estimates from New Frontier Data.
Former House Speaker John Boehner’s position on marijuana has evolved to the point where he now sits on the board of Acreage Holdings, while current leadership from both parties, Senate minority leader Charles Schumer and Senate Majority Leader Mitch McConnell, have each introduced bills to make cannabis and hemp more available to the public. Up North, in Canada, all signs point to legalization coming by the end of the year.
The industry is far removed from the pot smokin’, weed tokin’ culture wars of the past,