Currently, 30 states have voted for the legalization of medical cannabis. And with all the research released on the advantages of cannabinoids, it is likely to spur debate in those states which still do not allow it. Recreational marijuana is also legal in nine of the 50 states, and 64% of Americans polled in 2017 supported the legalization of medical cannabis nationwide. Even with governmental officials like Jeff Sessions staunchly opposing legalization, the industry is exploding all around the US.
Current And Projected Sales
Sales for legalized marijuana in the year 2017 totaled nearly $9.8 billion according to BDS Analytics and Arcview Market Research. That means that between 2016 and 2017 there was a 33% increase in sales, which was more than more than any forecasts had estimated. It is also expected that by the year 2021, sales will reach over $24.5 billion, with a 28% annual compounded growth rate expected.
What Does That Mean For Investors?
The key to wisely investing is getting in before the market explodes and – knowing when it is about to reach its peak – getting out. There is little fear that marijuana will reach its pinnacle soon. If the other 20 states legalize cannabis, which is inevitable, the profits realized by marijuana will skyrocket exponentially. Those who have the foresight to enter the market now will secure their financial future for years to come. Those who invest early stand to gain the most over those who sit on the sidelines and wait for the eventual legalization and what it will do for the cannabis industry’s windfall.
Where Should You Invest?
There are several ways that you can invest in the cannabis industry. From growers to distributors to technology, there is no shortage of ideas to diversify your investments to gain a little from all components of the marijuana industry. If all 50 states vote for the legalization of medical cannabis, the potential profits realized for all aspects of the industry will be like few investment opportunities in a lifetime.
Why You Should Invest
If you are looking for a long-term investment that is also aggressive and has a high return, cannabis is an excellent bet. Not only is there little question about the eventual legalization of medical cannabis nationwide; there will likely be many states that will legalize it for recreational use. If that happens, the demand will reach exponential rates. The people who stand to gain the most are the ones who have the forethought to get in now.
To discuss how to invest in cannabis and which industries to support, call Maricap today. As the experts in cannabis investing, they can secure your financial future for a lifetime.