New to the cannabis industry? While states continue to allow for medical marijuana programs and adult-use (recreational) industries, the cannabis industry continues to grow by leaps and bounds.
The medical marijuana industry isn’t new anymore, and most people don’t know that California legalized medical cannabis in 1995 with Proposition 215. Since then, the cannabis industry has continued to gain momentum across the globe. More and more countries are coming on-board and changing their own laws and regulations.
Like the dot-com boom of the early 2000s, the cannabis industry has seen an astonishing flurry of business over the past decade or so. It’s not an easy-to-navigate industry, though, and we see new businesses come and go on a daily basis.
As of March 2021, 33 states have approved medical marijuana programs, while 14 states, the District of Columbia, the Northern Mariana Islands, and Guam have approved recreational cannabis. 16 states and the U.S. Virgin Islands have decriminalized cannabis. Cannabis is still federally-illegal, though.
Cannabis is an evolving industry, with businesses ranging from growing it indoors or out, to edibles, software, and tourism. Yes, tourism.
At Hoi Polloi, we expect to work with more and more cannabis entrepreneurs with unique ideas.
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