Cannabis Community Remains Rattled & Assessing the Trump Card
One of the only things we knew for certain about the North American cannabis industry prior to November last year was that regardless of the result of the vote, it was going to be big. Not just big, but spectacularly lucrative. There was no way of telling precisely how big it was likely to be, given the fact that it wasn’t entirely clear which way the nine states taking cannabis to the ballot box would vote.
Of course, we now know that the result of said vote turned out to be nothing short of outstanding for the cannabis community – all nine states having voted to legalise either recreational or medical cannabis. Which in turn meant that as far as economists and analysts were concerned, there was suddenly a lot more information to work with in terms of overall industry values.
2016 may have been an important and prosperous year for legal cannabis in the US, but experts believe we really haven’t seen the even the start of things to come. Last year, total cannabis revenues came in somewhere in the region of $5.7 billion, which in turn meant a total tax bill of approximately $1 billion. Not bad,…