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Understanding the Evolving Cannabis Industry

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With more headlines these days about the potential therapeutic uses of Schedule 1 substances, Tematica’s mixologists Lenore Hawkins and Chris Versace talk with William Kelly, Managing Partner at AgriCascadia about the evolving cannabis industry on this week’s podcast. Bill has an incredible track record of being on the cutting edge of major technology and social changes as the co-founder of Sapient Health Network (previously WebMD), Learning.com and ReelDx.

In the United States today, 30 states plus the District of Columbia allow medical or recreational cannabis that contains the psychoactive ingredient THC. Over 65% of voters support legalization while over 60% of Americans already live in a state in which it has already been legalized. Globally, the legal cannabis industry is expected to reach $57 billion by 2027, according to Arcview Market Research. The largest group of cannabis buyers is expected to be in North America, rising from $9.2 billion in 2017 to $47.3 billion in 10 years. Outside of the U.S. is expected to grow much faster, rising from $52 million in 2017 to $2.5 billion by 2027.

You will find more infographics at Statista

Today, domestically this is a very complex market given that it is still illegal at the federal level, which means cannabis cannot be grown in one state and sold in another, limited the ability to achieve any meaningful economies of scale. Banking is also exceedingly complex for those involved in the sector as any bank that provides services to a company that is legally selling cannabis would be in violation of a myriad of federal laws and regulations.

Related: Agricultural Commodities and the New Middle Class

For those interested in this industry that in its legalized form is still in its infancy, this is one that will give you the munchies for more.

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