American adult use of medical marijuana and recreational cannabis in the USA is expected to be immense once it reaches maturity.
Put them together and we have POTUS. Let's begin with a category. The amazing cannabis plant has much to offer and it depends on the legalization in the legislative bodies throughout this country and the Nation's Capital.
Various reports suggest the marketplace could earn between $1 billion and $3 billion annually in the coming years.
Success will be determined, in large part, by the state’s ability to address the unlicensed market, sometimes referred to as the legacy market. States like California and Colorado have generated high sales but continue to struggle with unlicensed grow and dispensaries.
New York’s Cannabis Control Board and Office of Cannabis Management have released legislation incrementally. In April, the state granted over 200 conditional marijuana cultivator licenses to existing hemp farmers. On June first, the CCB approved its first set of packaging, labeling, and advertising regulations. Plans have also been made to issue approximately the first 100 licenses to people most affected by the drug war.
No further clarity has been given regarding license availability. In the meantime, a surge of unlicensed dispensaries has begun to open. Stores include brick and mortar, pop-up, and mobile sales sites using the state’s current grey area gifting laws. Numerous operators assume early launching is the natural step to gaining an adult use license. Others caution that such a measure may eventually bite aspiring legal operators.