The November 2016 election swept in vast changes in the way that several states will regulate marijuana in 2017 and beyond. States like California and Maine voted to allow virtually unrestricted use of the drug while states like Arizona and New Mexico voted to allow it for medicinal use.
As more states open the door to legal weed use, the American marijuana market continues to grow. The popularity of growing this drug for a cash crop has been called the green rush.
The Growth of the U.S. Marijuana Market
No doubt exists today that marijuana is a lucrative cash crop. Eight states now allow the use and sale of marijuana, with very few restrictions. Nineteen other states allow residents to purchase, own, and use it for medicinal purposes. As the market for marijuana grows, more entrepreneurs are wanting to get in on the green rush so that they can enjoy a lucrative source of income.
The interest and growth potential for the marijuana market in the U.S. has not been witnessed in any other industry since the boom of broadband Internet in the early 2000s or cable TV in the early 1990s.
In fact, it is predicted that the legal weed market will grow by more than 25 percent before the year 2020, leading to a significant income potential arguably not found in other segments of agriculture today. Marijuana growers no longer have to stay underground and out of sight of law enforcement.
Cultivators can now grow their marijuana in public and out in the open without fear of being fined or jailed. Moreover, they can also take advantage of modern agricultural technology to increase their yields and earning potential.
The demand for high-quality marijuana is not expected to ebb anytime soon, as more states introduce legislation to legalize the sale and use of the drug, or at least approve it for medicinal purposes. States have found that they can solve budget issues and a lack of revenue by taxing marijuana.
The Growing Popularity of Legal Weed
So why is marijuana growing in popularity across the U.S.? Why do so many people prefer it as their drug of choice? Marijuana appeals to people for a host of reasons. One of the primary factors in why it is the chosen drug for many is that it is relatively cheap.
Unlike cocaine or crack and even legal drugs like cigarettes or alcohol, marijuana can be inexpensive and, now, readily available whenever people want it.
Another factor is that it is a natural drug that has fewer side effects than heavier substances like synthetic drugs or even alcohol. The most notable side effect of marijuana use, however, is memory loss.
Still, many people are willing to gamble their ability to recall short term details in exchange for something that eases their pain and helps keep them calm.
Along with marijuana cigarettes, this cash crop can be used to make cannibals oil, which is increasingly used in medicine, most notably the treatment of cancer. Cannabis oil is also a popular marijuana product today, being used for recreational purposes in addition to the medical ones.
More states are legalizing marijuana for medicinal purposes, but a prescription for legal weed is pretty easy to obtain for any discomfort or stress issue. This growing approval and acceptance of the drug has opened the door for it being a lucrative cash crop.
The marijuana market is predicted to grow by more than 25 percent in the next three to four years. Its growth potential mirrors that of the broadband and cable TV industries in the early 1990s and 2000s.