Statistics issued by cannabis research company, ArcView, suggest that legal marijuana use could potentially rise by as much as 30% per year over the next three years. Another forecast, this time issued by the investment firm, Cowen & Co. also shows an increase in legal marijuana use with growth in pot sales from $6 billion to around $50 billion by 2026. That’s pretty good investment return for anyone!
One of the reasons for the massive hike in legal pot sales is down to the public’s changed view on the substance. No longer is it looked at as something that is sold by gangsters on the street corner to dropouts and wasters, but as an entirely legit medicine that relieves millions of people every day from unwanted pain and suffering. Recent polls found that 60 percent of those surveyed want to weed legalized opposed to just 25 percent in 1995.
There’s also big money to be made in legalizing marijuana; not just for companies, but for the government too. In 2015, $135 million was raised from tax and licensing fees from over $996 million in marijuana sales. 2016 followed a similar pattern, with Colorado alone bringing in more hit $1 billion in legal weed sales in the first ten months. But, as profitable as this all sounds, experts are still saying investment should be avoided for the time being.
However, one area that may be worth looking into soon for investors is in the marijuana breathalyzer device. If these devices were to be developed this would enable law enforcement officials to test drivers they suspect have been smoking illegal substances just as easy as they can for those who’ve been drinking alcohol. These breathalyzers would work by separating the THC molecules in the person’s breath to determine a) if marijuana has been used recently, b) maybe some level of intoxication. It’s a market that’s estimated to be worth around $500 million, so if investors are looking for somewhere to throw their cash, they would be crazy not to look into this.
But, detecting the level of THC in someone’s body is not quite as easy as detecting alcohol. Also, who’s to say what level of THC in the body is considered to be dangerous and at the point, one shouldn’t drive? This may prove to be a stick in the mud for those trying to start this innovative idea, but if they can get past it, there’s some serious cash to be made for everyone.
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