The Marijuana Industry Could Become a $20 Billion Industry By 2021

There is a big question that is looming around the marijuana industry, the legal industry that is. Are there going to be changes within the industry now that President Trump, and his AG, Jeff Sessions are now in charge?

The Administration’s Stance

New reports have suggested that this industry may be more durable than many people initially thought. The legal marijuana industry in the United States is predicted to reach over $20 billion in revenue by the next decade. With a yearly growth rate of almost 30%, the rate is continuing to stay consistent, even if the new administration is vehemently against the industry.

Profits Continue to Grow

Even though there are ‘mixed signals’ regarding legal marijuana coming from the administration, these signals will not influence the market growth.

Experts have said that no matter what actions the Trump administration make, states that have legalized marijuana will continue to issue cards. This means that residents who live in Las Vegas can still get their Las Vegas marijuana cards. This means that dispensaries will continue to see a long line of customers, and doctors will continue to see patients who are looking for a legal way to access the airport.

The industry has come to a crossing point. As more Americans show that they are in favor of the use of medical marijuana, their representatives in Congress are showing that they still oppose the sale and use of the legal version of the drug.

Although the administration has yet to come out with a definite stance either way, there have been several hints that the administration may begin to crack down on the industry. One reason is that the drug is still listed as a Schedule I controlled substance.

Ominous Warnings

Over the past few weeks, AG (attorney general) Jeff Sessions caused shock and worry in the industry when he promised to increase the enforcement of drug crimes. AG Sessions has been a vocal opponent of the industry, and has stated several times that by increasing the ease of access to the drug, there will be an increase in the abuse of other drugs like heroin and opioids. He also believes that the overdose rates are a result of legal marijuana despite several studies that have refuted these claims repeatedly.

Sean Spicer, White House Press Secretary, has also given critical warnings to the industry. He has said that the industry will experience greater enforcement regarding the federal laws regarding marijuana under President Trump.

Several reports have gone on to say that the industry in the United States has finally reached the place of no return. After the results of the election, it was clearly shown that marijuana legalization advocates and being conservative is no longer considered exclusive. Several states that are considered primarily Republican have voted to have legal marijuana in their borders in some form.

There are still a lot of unknowns about how and if the federal government will make good on its promises. However, there is still a glimmer of hope in the industry.