U.S.: Marijuana Industry Takes A Step Forward With DOJ
The cannabis industry had a major victory last week, without even appearing in court. The U.S. Department of Justice, after four years, dropped the case to shut down Harborside Health Center in Oakland, California, which is currently the largest medical marijuana dispensary in the United States.
Robert MacCoun, a law professor and drug-policy expert at Stanford University, in an interview with SF Gate perfectly explained how this market is changing: "The framework is moving from the war on drugs to tricky issues of regulation, taxation and who is going to be in control of this major new industry," he said.
The reason for the softer approach is in part economical. According to a report by Marijuana Business Daily, the entire marijuana industry, including tourism, which is an impact of legalization, is projected to provide $44 billion to the economy by 2020.
Legal marijuana sales in the U.S. alone spiked to $5.4 billion in 2015, up from $4.6 billion in 2014. Sales are projected to hit $7.1 billion in 2016.
An independent research article by Michael Markowski, who has been part of the financial information industry for decades producing research, information and intelligence products gives his insight into the cannabis space, according to FinancialBuzz.com.
He touches on names like Diego Pellicer Worldwide, Inc., a real estate and a consumer retail development company that is focused on developing the world's first "premium" marijuana brand by adhering to the highest quality and standards for its facilities along with both cannabis and non-cannabis products with the aim of appealing to an affluent audience.
Other sector companies mentioned by Markowski include Terra Tech Corp., which operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
Medical Marijuana, Inc., wants to be the premier cannabis and hemp industry innovators, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
In the Big Pharma world, GW Pharmaceuticals recently announced the successful completion of their phase 3 trial for the treatment of Dravet syndrome -- a rare and severe form of epilepsy in children with no FDA-approved treatments. The company's investigational medicine Epidiolex® proprietary cannabinoid product platform. Shares of the company jumped 120 percent after the announcement on March 14.
General Cannabis Corp., is an all-in-one resource for service providers available to the regulated cannabis industry. They are a partner to the cultivation, production and retail side of the cannabis business. They do this through a combination of operating divisions such as real estate, consulting, security, financing and the distribution of infrastructure products to grow facilities and dispensaries.