What Does the Future Hold for the Cannabis Industry?
The dawn of five decades –
Remember your first time getting high? The thrill then relaxing chill that ran through your body because it was illegal. Boy, have the times changed from the 1970’s when cannabis was first outlawed by the Controlled Substance Act (CSA).
Today, more than 44 states have made moves to legalize marijuana for at least medical use. Dispensaries are popping up like wildflowers and customers of all ages (18 and up, of course!) are lining up to receive their medical cards. This has made it possible for us to launch our app, Greenrecs, that makes medical marijuana affordable and accessible to all.
The strides we’ve made over 50 years is astonishing and was celebratory until COVID-19 struck.
2020 was supposed to be our year…
Legislators marked 2020 as the year full legalization of marijuana would pass in a majority of the states. Since the coronavirus outbreak, passing these bills has been put on the backburner for many states around the country or has made it impossible to receive the ballots that are needed by November due to social distancing. Andrew Cuomo, New York Gov., marked marijuana as a priority this year, but has since said: “Too much to deal with, to little time.”
We may have lost the war… but we have won the battle!
Just because most marijuana legalization has been halted doesn’t mean our point hasn’t been proven. The statistics are showing that sales are booming and it’s helping society cope with isolation, says a CNBC article. ⬇ View the facts below from the article! ⬇
Cannabis wins so far since COVID-19:
- + 8 states deemed recreational cannabis essential during COVID-19 shutdowns
- + Weekly sales in march topped $134 million in California, Washington, Nevada, and Colorado, a 17% increase from the weekly average in 2019.
- + The average purchase increased by 47%
Cannabis to the Rescue!
It’s a known fact that COVID-19 has shuttered the doors to many businesses and who knows what society will entail once isolation orders are over. While some industries may be burdened for an unknown amount of time, the marijuana industry will flourish. Cannabis CEO’s are predicting that marijuana will save the U.S economy after the coronavirus-induced recession. In other words – Cannabis to the Rescue!
“There is going to be a need for increased tax revenue and where else to look but at a legalized industry like cannabis, that is one of the few growth sectors in the world right now.” – said Hawkins, managing partner of Entourage Capital, a private equity firm with $200 million invested in Green Thumb Industries and other cannabis producers.
“Each additional state that passes an adult-use law now has two senators that come from states that have cannabis programs. They are going to be more familiar with it; they are going to understand the way the industry is developed, can work, and can be a societal benefit.” – Charlie Bachtell, CEO of Cresco Labs
We Shall Prevail!
We believe 2020 can still be our year for the Cannabis industry, It’s certainly still ours! Greenrecs will officially launch this spring and we can’t be more excited. Our goal is to bring affordable cannabis consultations from the comfort of your own home. No awkwardness or sitting in waiting rooms. It’s already going to be awkward enough when society has to converse again, right?
Heck, once this is all over an industry that the government once fought against might be turning to for help. And in the words of the great Alanis Morrissette – and isn’t it ironic, Don’t you think?