What is the Medical Marijuana Industry Worth?

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The medical cannabis industry is growing. It is still in its infancy, even though the unregulated market is already a multibillion dollar black market trade dominated by criminal organizations and domestic citizens combined. Those on the medical end of it are trying hard to legitimize and thanks to a supportive public, efforts are working in their favor as more and more states begin to pass their own versions of medical marijuana legislation or recreational use laws.

The marijuana industry is believed to be approaching a $35 billion opportunity. That is, if all states were regulating it. It may also be the fastest growing industry in the entire United States of America. Farmers and dispensary hopefuls desperately want to enter markets. Venture capital firms and even the Silicon Valley tech industry is taking notice and wants pieces of the pie as well. The pie isn’t fully baked yet, though (pun totally intended).

Many dispensaries in operations now, such as the Delta9 Collective, are already reaping the rewards, despite a still present federal danger. However, the risks are being eliminated more and more as states stand up against federal rules and pass their own.

Many other industries are sprouting up services to help incubate this potential cash cow, such marketing, medical devices and others. Recreational use states have jumped the numbers of economic activity related to the drug as well. The industry is already generating more than a few billion dollars, so analysts are keeping a tight watch on the industry.

More than half of the nation, in polls anyway, say they can support legalizing marijuana in some form. The medical option seems to be the most politically attractive at the moment, though states are also passing recreational use laws. Many citizens support full legalization according to these polls. The Marijuana Policy Project and other groups like the Drug Policy Alliance are helping shape much of the objective opinion about the drug and also helping craft the legislation behind regulated environments.

Political candidates are becoming less scared of actually supporting marijuana use, but there remains opposition in many conservative camps within the GOP. This won’t deter entrepreneurs and investors, however, many who may continue to push those politicians to reform laws on the books. These investors and entrepreneurs want to legitimize an entire industry so they can seek some serious returns from the cash crop, cannabis.

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