CannabisNewsWire Editorial Coverage: Legal marijuana sales in North America hit $6.7 billion in 2016 – a 34 percent jump from the previous year, making it the fastest-growing industry on the planet, according to Arcview Market Research’s 2017 report on the marijuana market. The research firm expects those figures to soar to nearly $23 billion by 2021. Companies that provide products and services related to the broader cannabis economy enjoy huge growth potential as the industry continues its inevitable march toward full legalization, and few of them require touching a single leaf of the highly regulated plant. Companies such as SinglePoint, Inc. (SING) (SING Profile), United Cannabis Corp. (CNAB), Sugarmade, Inc. (SGMD), GreenGro Technologies, Inc. (GRNH) and Kush Bottles, Inc. (KSHB) are banking on pursuing those ancillary revenue streams as they look to the future.
Predictably, the cannabis market is scaling up at profound rates as changing public perceptions and shifts in attitudes toward the use of medical and recreational marijuana begin to shape legislative policies. The Canadian government, which announced the full legalization of recreational marijuana by July 2018, is poised to consider amending the law by including edibles and other consumables. While marijuana is still illegal on the federal level in the United States, 29 states and the District of Columbia have legalized using marijuana in some form (http://cnw.fm/612wM) with each individual state passing its own, distinct set of regulations.
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