He Also Found That The Number Of Investments In The Industry Has Been Relatively Flat, Yet The Amount Of Money Being Put Into Those Investments Has Increased From Quarterly Investments Of $100 Million To $700 Million.

Pull off the federal ban on cannabis,” Ventura said at the congress, citing Colorado as an example of a booming pot economy that contributes jobs and revenue to state coffers. In addition to Colorado, the others states that allow recreational use of marijuana are Washington and Oregon. It’s also legal in the District of Columbia. In Nevada, which also has laws allowing prostitution and gambling, the pot legalization will still ban public consumption, so don’t expect to light up at a casino. Cannabis plants grow in the greenhouse at Vireo Health’s medical marijuana cultivation facility, August 19, 2016 in Johnstown, New York. A growing body of evidence suggests that legal weed is an economic boon for states — and potentially, the federal government. According to a 2016 analysis by the Tax Foundation , the potential revenue for the federal government could generate $500 million per year. At the state level, legal cannabis has become the fastest-growing industry in those states, according to research from Ted Shepard, an economics professor at Le Moyne College. John Kagia, executive vice president for New Frontier Data, said that in 2016 alone the industry grew 236 percent, according to the Viridian Cannabis Stock Index — far outstripping the rallies Green Rush of the Dow Jones industrial average, the S&P 500 and the Nasdaq. He also found that the number of investments in the industry has been relatively flat, yet the amount of money being put into those investments has increased from quarterly investments of $100 million to $700 million. Other speakers focused less on the economic benefits of the industry and more on the medical benefits.

To read more visit http://www.cnbc.com/2017/06/30/recreational-pot-use-is-now-law-in-nevada-as-support-for-weed-grows.html

Comments are closed.