According to The Motley Fool, the marijuana industry is expected to reach $146 billion by 2025. In November of 2019, a historic bill was passed to legalize marijuana on the federal level. A 5% tax was included in all cannabis products to help those affected by the war on drugs obtain jobs. Many states are starting to throw out minor marijuana offenses from people’s records.
The cannabis industry is a multi-billion dollar industry that is expected to continue its rapid growth over the next few years.
Although actions were taken to legalize marijuana on the national level, publicly traded cannabis stocks faced huge losses near the end of 2019. These were due to federal regulations and costly industry expenses. The Food and Drug Administration (FDA) also issued a statement saying, “CBD has the potential to harm you.” Every marijuana product should be consumed in moderation and awareness of the potential risks.
CBD
CBD is a cannabinol found in marijuana, which contains many health benefits. CBD is used to combat anxiety, insomnia, pain, inflammation, seizures, and more. CBD comes in the form of oil, edibles, pills, and topicals. According to Investopedia, the CBD markets are expected to reach $22 billion by 2022.
Hemp
Hemp is a non-drug form of the cannabis plant. Hemp is used to making oil, paper, clothing, rope, food, and fiber. Hemp has also been used for medical purposes. According to CNBC.com, the hemp industry reached $1.1 billion in revenues and is expected to double within the next two years.
Cannabis and other forms of the plant prove to be beneficial for medical, industrial, and economic uses. Millions of jobs will be created due to the cash crop. What are your thoughts on the legalization of this plant?
Action
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