Legal Marijuana Business in the U.S. is turning out to be a Significant Money Maker:
Legalized marijuana is a ‘growing industry’ and reports show that it is developing into one of the top money making businesses in the U.S. According to a recent report from the cannabis research firm The Arc Group, the legal cannabis market in the U>S. pulled in $1.5 billion during 2013 and $2.7 billion last year. The is a significant amount of money and a significant growth percentage from year to year. The legal marijuana industry is expected to make even more this year. More states are taking action to vote favorable marijuana reform legislation in 2016 which will continue to grow the industry in the U.S. It could make tens of billions of dollars over the next five years. If the federal government changes its classification of marijuana, the money making ability of legal marijuana could be even higher.
Marijuana reform news review today in the U.S.:
Illinois is one of the 23 states in the U.S. that has passed legislation to permit medical marijuana in some form. Marijuana reform is still gaining momentum in the U.S. and is developing into a multi-billion dollar industry. More states are seriously considering medical marijuana reform due, in part, to the amount of tax revenue that can be gained from doing so. One state beginning to experience a significant uptick in medical marijuana sales is Illinois. Illinois passed legislation to permit patients to use medical marijuana, and in the first week of sales, the numbers are noteworthy.
Medical Marijuana Reform in the State of Illinois:
According to the Department if Public Health in the state if Illinois, there are currently 3,300 patients registered in the state that could purchase medical marijuana. Of this number, about a quarter of them were served at one of the eight working medical marijuana dispensaries during the first week of medical marijuana sales. In just the first week, over $200,000 in medical marijuana was sold. The eight medical marijuana dispensaries in Illinois are located in Addison, Canton, Marion, Mundelein, North Aurora, Ottawa, Quincy, and Schaumburg. More dispensaries are scheduled to open and according to the current state law, 60 dispensaries are permitted to do business at any one given time. By the end of this month, 12 dispensaries are set to be open and at least 25 dispensaries are scheduled to open by the end of December. Legal marijuana is a big money maker in the U.S., and the state of Illinois is one more state that will build the industry’s foundation.