Many are Capitalizing on the Marijuana Industry
On 28.01.11, In Legal Industry, by Blake Houser
The marijuana industry is on the rise. Many are in favor of legalizing medicinal, as well as recreational marijuana. In California, small doses have already been legalized, but to be entirely acceptable all throughout the country is still a far cry. The health benefits of marijuana are still undergoing research, but for those states that have already legalized marijuana, many entrepreneurs are looking into tapping the industry.
The industry involving medical marijuana is booming, as per the report in SmartMoney. There are now 15 states that allow medical marijuana, and 3 more are getting close to approval by 2011. There is an estimate of 43,000 dispensaries all throughout the U.S. and so many people are trying to tap into the market with an eye for profit once marijuana is legalized.
In a much recent Gallup poll, approximately 44% of Americans are pro marijuana legalization. The drug has become very popular and many venture capitalists are interested to have their share of the $36 billion marijuana industry.
At present, a number of states are looking into the legalization and taxation of the marijuana industry, as a way to cope with growing deficits. The industry itself may offer a great potential for huge profits for investors but the industry could still be considered as volatile because of the influence of government regulations.