Marijuana Gold Rush: Legal Marijuana Industry Forecasts $6.7 Billion in Sales for 2016. Market Still has Massive Room for Growth.

Author: Austin Munday Date: 2/4/16 
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The marijuana industry is becoming the 21st century gold rush. According to the New York Times, the industry hit $5.4 Billion in 2015, and is projected to increase by $1.3 billion this year, totaling at $6.7 billion. [1]

The growth of the industry shows no signs of stopping. Over half of the states in the U.S.A. are still untapped. Trends show that state legislature reformation of marijuana possession and consumption will eventually saturate all fifty states.

One of those trends comes from research done by the Behavioral Health Barometer, an organisation that studies trends substance use and mental health. According to one of their statics, 77 percent of America’s youth agree that consuming marijuana is safe. [2]

If upcoming generation teens welcome the use of marijuana, then as the older generations begins to leave political office and the voting pool, a new generation of marijuana supporter will replace them.

Entrepreneurs are looking to capitalize on the potential.

One such individual is Tom Bollich, calling the scene, “the wild, wild West.” He moved from Silicon Valley to Boulder Colorado in hopes to strike it rich building climate systems for the indoor production of marijuana. [3]

The on-demand service Eaze aims to become the Uber for weed, providing a delivery service specifically for marijuana. There is even a sexual lubricant made with special cannabis-based properties; Mathew Gerson, who studies sexual health, is developing this wanton tonic — stating he saw an opening in “pleasure-enhancing products.” [4]

There also exists a service that is the cannabis equivalent of a wine club. The San Francisco based company is called Marvina. For 100 dollars a month, users will receive a hand-selected variety of cannabis strains. [4] [5]

And if your looking to make an entrance into the marijuana industry, then the website WeedHire may be able to help out.

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[1] Hauser, Christine. “Legal Marijuana Sales Hit $5.4 Billion in 2015, Report Says.” The New York Times. The New York Times, 04 Feb. 2016. Web. 04 Feb. 2016.

[2] Lupkin, Sydney. “77 Percent of American Teens Now Believe It’s Safe to Smoke Weed” VICE News RSS. N.p., 27 Jan. 2016. Web. 04 Feb. 2016.

[3] Healy, Jack, and Kirk Johnson. “Next Gold Rush: Legal Marijuana Feeds Entrepreneurs’ Dreams.” The New York Times. N.p., 18 July 2014. Web. 04 Feb. 2016.

[4] Gusovsky, Dina. “Marijuana start-ups: Industry grows new entrepreneurs”CNBC. N.p., 20 Apr. 2015. Web. 05 Feb. 2016.

[5] “2 San Francisco Entrepreneurs Develop Medical Marijuana-Of-The-Month Club.” CBS San Francisco. N.p., 5 Jan. 2015. Web. 05 Feb. 2016.