U.S. Legal Cannabis Industry Expected to Reach $92 Billion in 2021 | TRICHOMES Morning Buzz

Описание: Cannabis News Update May 12, 2021

Today in cannabis news: New statistics indicate that the U.S. legal cannabis industry is expected to reach $92B in 2021; a proposal to legalize recreational cannabis will be debated on the Minnesota state House floor for the first time; and the director of a major U.S. federal drug organization questions the government's strategy of persecuting individuals for drug use and suggests that it instead pursue decriminalization.

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** First up: As per a recently released analysis by MJBizFactbook, the overall economic effect of cannabis sales in the United States in 2021 is estimated to hit $92 billion, rising over 30% from the previous year, with a projection of $160 billion in 2025.

Depending on the scale, age, and form of industry, the economic effect differs between states. California's cannabis market, for instance, is projected to bring in up to $20 billion in 2021 as the country's biggest sector. There is no other state that gets near that number. However, in the years ahead, states like Colorado, Illinois, Oregon, and Washington will all offer greater than $10 billion to their regional industries.

As industries in heavily populated states like New Jersey and New York grow, similar economic impacts can be anticipated.

Nevada will generate $1,917 in economic effects per citizen this year, according to new population projections published this month via the 2020 U.S. census. Alaska, Colorado, and Oregon's cannabis industries will each inject nearly $1,500 per person into their individual regions.

https://mjbizdaily.com/marijuana-indu...

** Next up: CBS Minnesota reports that a proposal to legalize recreational cannabis will be debated on the Minnesota state House floor for the first time as early as Thursday this week. It is predicted that the proposal will pass the chamber with bipartisan approval, but it is unlikely to come up for a vote in the Republican majority state Senate.

The public perception is increasingly changing in favor of legalization. According to a 2014 Star Tribune/MPR News poll, 30% of Minnesotans supported legalization, while 63% opposed it.

The same survey showed the numbers had reversed six years after, prior to the beginning of the coronavirus pandemic in the U.S. in February 2020, with 51% in support and 37% in opposition.

When questioned on how their constituents felt about the topic, Rep. Nolan West (R-Blaine) replied, “Overall, I would say they are definitely supportive. The majority of most people realize alcohol and tobacco are already legal and far more dangerous.”

https://minnesota.cbslocal.com/2021/0...

** Last up: The director of a major U.S. federal drug organization is questioning the federal government's current strategy of persecuting individuals who use drugs and suggests that it rather pursue a decriminalization approach.

“Addiction Should Be Treated, Not Penalized,” wrote Nora Volkow, director of the National Institute on Drug Abuse or NIDA. It makes the argument for not imprisoning people for minor drug violations and views the problem as a public health concern.

Although the essay does not expressly endorse decriminalization, Volkow claims that the existing framework results in discriminatory punishment against people of color and may also raise the likelihood of fatal overdoses.

“We have known for decades that addiction is a medical condition—a treatable brain disorder—not a character flaw or a form of social deviance,” added Volkow in the essay recently republished to the NIDA website. “Yet, despite the overwhelming evidence supporting that position, drug addiction continues to be criminalized. The US must take a public health approach to drug addiction now, in the interest of both population well-being and health equity.”

NIDA is among the driving forces on a recent federally approved cannabis testing initiative. It confirmed last week that it decided to set a five milligram THC standard per dose after soliciting public feedback on a standardized THC unit for cannabis research last year.

https://www.marijuanamoment.net/head-...