The cannabis trade has tried to convince the public that legal weed is not only a creator of jobs and salvation’s wing for local economies but that it is also an industry wrecking machine with the power to snuff out all of the competitors within the inebriation market. Its arch nemesis in this nail-biting mission to contribute to the unsobering of America is none other than the alcohol industry.
There is such animosity reverberating throughout the cannabis community over the fact that beer, wine and spirits are legal and widely accepted while the cannabis plant -- a natural substance that as far as we know is safer than booze -- just can’t seem to find any footing in the swamplands of national commerce.
But the U.S. marijuana market isn’t dragging too far behind, especially since weed is still considered a pariah in the eyes of the federal government.
Some of the latest data from Wall Street’s Cowen and Co. shows the U.S. cannabis market at the moment is worth right around $50 billion. That’s with only ten states having established a taxed and regulated system that allows cannabis products to be sold in retail dispensaries to adults 21 and older.