America may very well be on the verge of an extraordinary blossoming of prosperity in the coming years, but only if we can come to terms with the growing legalization of the cannabis plant.
As it stands currently, non-THC cannabis is nationally legal here in the United States thanks to a forward-thinking legislation bolstered by the work of former Congressman John Boehner. For those looking for a product containing the aforementioned psychoactive substance, well over half of the states in America allow for some form of legal, medicinal, or decriminalize marijuana.
In states where pot is legal the economic impact has been wholly astounding; being heralded as a Green Gold Rush of sorts. Given America’s dominance in the world of agriculture, and the cannabis plant’s uncanny ability to grow like a weed, (because it technically is one), America could soon be the world most powerful exporter of the drug…if we can convince some of the old guard to reexamine pot prohibition.
Exactly what sort of economic impact could legal cannabis have on America? Even with only a fraction of the nation currently on board, the numbers are staggering.
According to estimates, the marijuana industry could out-earn the National Football League as early as next year.
Revenue in the U.S. from legal recreational and medical pot rang in at between $8.6 billion and $10 billion in 2018, according to the New York Post. That was already about three quarters of the $14 billion earned by the NFL in 2017.
But that junior status for the pot industry won’t last long. According to some estimates, Americans could spend as much as $50 billion a year on pot in the next few years.
“By the end of 2023, sales of legal cannabis in the United States could exceed Americans’ collective spending on gym memberships,” MJBizDaily Research Editor Eli McVey said according to the Post.
Now here is where it gets overtly wild:
“Legal marijuana will create a $39 billion to $48 billion boost for the economy this year alone, with the potential to surpass the $100 billion mark in 2023,” the paper added.
Money may not grow on trees, but legal cannabis could be a fine facsimile.