Within the next 5 years, the legal cannabis industry is expected to out earn the US film industry, the organic foods industry, and more than triple the revenues of the NFL
$3 Billion – The current value of the legal marijuana market, which grew 74% in 2014. In 2015 the legal marijuana market is projected to grow by another 32%.
$37 Billion – The projected value of US retail sales resulting from full legalization. This represents a 1,262% increase over 2014 wholesale and retail sales.
23 – States that have already legalized medical marijuana. 11 more have pending legislation in 2015.
$17 Million – 17 million people already live in states where recreational marijuana is legal. Based on legalization projections, this number is expected to increase to 86 million – over 25% of the US population – by 2017.
$500 Million – The US imports $500M in hemp products each year. With the passing of the 2014 Farm Bill, Americans can grow limited quantities of hemp for the first time in 77 years.
Important industry facts
While THC is the well-publicized “high” inducing compound in cannabis, there are several dozen other unique compounds, called cannabinoids, with promising effects. Cannabidiol, or CBD, does not cause the “high” of THC, and studies show it may have many medical benefits. Naturally occurring hemp is relatively high in CBD, with low THC levels. More research is needed to better understand the potential of the other 60+ cannabinoids. Evidence also shows that these compounds are synergistic, working together to have greater effects.
‘507 Patent: CBD (cannabidiol) is classified by the National Institutes of Health as an antioxidant and neuroprotectant. US patent number 6,630,507, entitled “Cannabinoids as antioxidants and neuroprotectants” specifically describes the therapeutic properties of cannabidiol, listing over a dozen serious medical conditions that could be treated with the therapeutic use of CBD.