Massive pent-up demand has created a multi-billion dollar market just waiting to see the light of day. Buyers and sellers were lined up, hedge funds were on high alert, and investment bankers were salivating to take businesses public. Now thanks to new regulations in the USA and Canada, investors don’t need to miss out on the billions that are flowing through the fastest-growing new industry in the Americas.
Cowen, a leading investment firm, predicts U.S. sales will reach $47 billion per year within a decade and $75 billion by 2030.
Deloitte, which has been closely following the Canadian market, forecasts $7.7 billion sales in Canada by next year. That’s just for direct sales and taxes. When Deloitte considered ancillaries like tourism, security, testing labs, infused products, and licensing it reached a $22 billion total.
The tide has turned for cannabis, and acceptance is snowballing. In 1969, only 12% of Americans thought MJ should be legalized. By 1990, that had barely improved to 16%. In 2000, it rose to 31% and hardly budged for the next six years—reaching 32% approval in 2006 according to Pew Research.
But what came next was the phenomenon economists call a “tipping point.” The trend reached a point where it became unstoppable. More and more states began to approve medical use, especially products like non-psychoactive CBD oil that has been used to treat epileptic seizures in children that did not respond to any other medicine. Vets suffering from PTSD began to praise the relief they found from cannabis. Chemo and cancer patients added their voices.
Evidence piled up. By 2014, respectable news outlets like CNN were running programs on medical MJ, especially the heart-rending story behind Charlotte’s Web for children like Charlotte Tigi who suffered as many as 300 grand mal seizures per week. Who could oppose a substance that could help a child like that?
In a rapid turnabout, today 61% of Americans approve of legalization.
And the one thing that Donald Trump, ex-Speaker John Boehner, Sanjay Gupta, and Kiss front-man Gene Simmons all agree on is that the time for cannabis has come. There are fortunes to be made on legal cannabis investments.
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