- November 19, 2019
- Posted by: Kirsten Campbell
- Category: Blog
Cannabis has become mainstream
A medicinal substance which isn’t quite Federally legal, is now being touted in holiday travel gift guides for 2019 and openly discussed by the TSA. In fact, it would appear as though the TSA has reassured the public that they aren’t even looking for weed, which likely caused a sigh of relief for many domestic travelers. This news arrives conveniently in time for the holidays – to the relief of many.
Just this week, news outlets reported recent polls that showed support for marijuana legalization in the U.S. hit a record high of 67%. This cannabis acceptance trend is steadily increasing; it’s even up 5% from 2018. As the U.S. and other countries soften on legalization, social and political support is likely to continue climbing among Americans.
Medicinal weed is the next frontier
Marijuana can be a very lucrative business and expected to grow by more than eight times by 2024. By that time, North American cannabis sales are projected to hit $37.9 billion, with the bulk expected to come from medicinal sales.
A lack of federal legalization hasn’t stopped investors from increasing the cash they’ve poured into the weed industry. The markets are aware that America is a sleeping giant with regards to cannabis. So investors seem willing to write larger and larger checks as they become more confident that Federal Law makers will soon take an even more aggressive leap of faith than the Church did when they approved cannabis investments. Not to mention that cannabis healthcare companies have had the ability to bask in the venture capital sun, which is always a positive sign for the industry and an indication of more progressive lawmaking to come.
For many out there, 2020 and beyond will bring about federal legalization; the industry is too lucrative to ignore. Currently there is a bi-partisan bill called the SAFE Banking Act, which aims to solve the cannabis banking access issue. Both sides of the aisle, and other Federal agencies, are working together to bring solutions to a burgeoning industry that’s offering jobs, inclusivity and innovation. One such company is OrgHarvest, Inc., based in Nevada.
OrgHarvest is also a perfect example of how regulation appears to be softening. OrgHarvest seems to be the first U.S. based cannabis cultivation company to pass the Securities and Exchange Commission’s qualification process to offer a Reg. A+ to the general marketplace – accredited and non-accredited investors. This is something we could soon see more and more of in the American cannabis markets in the year to come. Congrats to OrgHarvest on the exciting news of their Dutch greenhouse opportunity.