Cannabis and marijuana are both considered Schedule 1 drugs. But businesses within the industry tend to be anything but conventional. Here are a few interesting facts about this booming market that you might not know.
The “workday marshfield clinic login” is a business that helps patients with cannabis and marijuana related problems. The company has been in the industry for over 20 years.
Marijuana has been a subject of discussion for a long time. It’s a contentious topic, and some people believe that using marijuana is dangerous. The medicinal advantages of marijuana, on the other hand, cannot be refuted. There is evidence that cannabis may assist with seizures, anxiety, and pain relief from illnesses like cancer or arthritis. We’ll go over a few intriguing facts regarding the marijuana business in America today in this post so you know what’s going on.
It is generating employment.
The first intriguing aspect about the cannabis sector is that it is very useful to the economy, with job generation being one of the most significant benefits. To be more precise, the cannabis sector presently employs roughly 250,000 people.
You may believe that because of the industry’s scale, this figure makes sense, but this is only the amount of individuals who are directly engaged in handling and cultivating marijuana.
There Are Several Ways to Consume
Most people immediately think of bongs and joints when discussing marijuana consumption methods, as these are the two most iconic forms of marijuana consumption.
Many people may be surprised to learn that there are now a plethora of other ways to consume cannabis, including dry herb vaporizers, dab rigs, edibles, and even glass pipes, all of which are readily accessible on websites like Grasscity. Bath bombs and tinctures, for example, are more exotic treatments that are inserted beneath the tongue. All of these varied ways of consumption have distinct onsets and impact the duration of effects, and there is now literally a gadget for nearly any consuming behavior.
It is rapidly expanding.
The second intriguing truth about the cannabis business that most people are unaware of unless they follow its growth or are a part of it is that it is rapidly expanding. Various statistics may be found depending on where you look, but the market in America is now valued anywhere from $23 to $52 billion, which is pretty substantial when compared to the worldwide smartphone sector, which is worth roughly $774 billion. According to estimates, the market will be worth $73.6 billion by 2027.
Several states have legalized marijuana.
Marijuana has been illegal for the greater part of a century and remains so under federal law, making study difficult. Despite this, 11 states in the United States have legalized marijuana for recreational use, while the regulations governing its use and possession differ by state.
Alaska, the District of Columbia, Illinois, Kansas, Michigan, and other states have legalized marijuana thus far. Many states have also authorized it for therapeutic purposes, with 38 states now doing so, but the number is growing.
Many people are planning to legalize marijuana.
As previously said, the number of states considering legalizing marijuana is steadily increasing, owing to the many economic advantages associated with its legalization, even if just for medicinal purposes.
So far, Delaware, Connecticut, and Rhode Island are the states most likely to legalize marijuana for recreational use, which is a significant step forward for the business. There are a few states that are considering medical marijuana legalization, with Alabama being the leader and Nebraska, Kansas, North and South Carolina being longshots.
Marijuana enforcement is costly.
As previously stated, there are several economic advantages to marijuana legalization, one of which being the cost savings to the state in terms of marijuana enforcement. As it turns out, policing marijuana is pretty costly, and it may cost states a lot of money in terms of incarceration.
Between 2001 and 2010, around 8 million marijuana arrests were made, costing $3.6 billion to enforce.
The Black Market Is Still Highly Valuable
Finally, the illegal market for marijuana has not been entirely shut down, and despite the fact that the legitimate sector is growing well, the black market is still worth a lot of money.
According to statistics, the black market received around $46 billion in 2020, which is almost as large as, if not larger than, the official market. Official data for each market are difficult to come by, so keep in mind that the total might be substantially higher.
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