How Cannabis Has Boomed In the United States

Legal Cannabis

In case you were unsure of the numbers, let’s clear that up, 31 states allow this to be used legally and it is also allowed in Puerto Rico, Washington DC and Guam. It is projected that in the next few years, the legal sale of cannabis will topple 20 billion each year. This is a stark difference from 2017 when the total sold hovered around 8 billion.

Do not make the mistake of believing that because this is legal in your state you can cross state lines with it and things of that nature. Doing so could land you in hot water since it is still illegal on a federal level.

Keep in mind that the only cannabis you are allowed to buy legally is that which is sold at regulated dispensaries. This means that buying some from a local dealer or a friend is still very much against the law.

CBD

Everywhere you turn these days, there are people singing the praises of cannabidiol (CBD). While this is derived from the cannabis plant, it does not lead to a “high” feeling like cannabis leaves. It is actually lauded for its use as a treatment for many conditions, including anxiety, chronic pain and epilepsy.

The main reason that this is generally allowed to be sold is that it does not contain large amounts of THC; sometimes it has none at all. As a result, you can use it to treat children, the elderly and people who you would like to help without worrying about any side effects.

Financial Pitfalls

Were you aware that since cannabis is not federally legal, this means that most banks are not allowed to do business with companies that sell it? For this reason, most dispensaries are forced to accept cash-only transactions. While this may seem like a small inconvenience that could be fixed by simply visiting an ATM, the hard fact is that this leaves many stores in a vulnerable position. Basically, they are more likely to be robbed than the average store since they have so much cash on hand.

The Job Market

There are more than 7 thousand active licenses out there for cannabis cultivation. As a result, there have been many jobs created. This is a small fraction of how things would be if this was not a federal offense. It is estimated that more than a million jobs would be created by 2025 if this change was made. There is no guarantee that this will ever be the reality, but that is an interesting point to consider.

Marketing Cannabis

You are wrong if you believe that legal cannabis is something that is marketed in the same way as other legal products. While you may see cigarette ads when reading magazines or beer ads during the Super Bowl, it is not likely you will be watching the evening news and there is a cannabis ad on the screen.

Social media marketing is all of the rage right now, especially considering the number of people you can reach without having to invest an exorbitant amount. There are some companies that sell cannabis products and they have begun to look for ways to use this to their advantage. Keep in mind that one of the largest social media sites in the world, Facebook, will not allow ads related to this, yet you can proudly have them displayed on Instagram.

The Illegal Market

Just because cannabis is legal in many states, this does not stop people from purchasing it from those who are not authorized sellers. There are a few reasons that this may be occurring, including the reluctance to be open about this for fear of having a stigma attached. It may also have something to do with the fact that cannabis that is sold in dispensaries is more expensive than that which you can find on street corners here and there.

It is suspected that even if it became legal overall, there would still be people that choose to do this the old fashioned, illegal way. Most likely because they do not want to get licenses, be subject to federal regulations and pay taxes. If these factors were not a concern, things would probably be very different.

Vaping

These days, there are many people who use vape pens to consume cannabis. While these used to be popular with those who smoke tobacco and/or hookah, it is now popular amongst the cannabis set as well. The main problem that some are having with vape pens is the fact that they are typically marketed as being something cool and stylish. Some believe that this can offer children a perception that is far from the truth.

You can walk into stores all over the United States and purchase these devices. This shows how different the acceptance of recreational smoking is now as compared to many years ago. Many thought that they would never see a time when cannabis is as available and mundane as it is at this time.