How the Cannabis Industry can Change the World
The cannabis industry continues to shatter records that no other industry has come close to since its inception. By the end of the decade, the cannabis industry is projected to gross more than $200 billion. This industry consists of businesses of all shapes and sizes. Some of these businesses focus on investment, security and loss prevention, packaging, transportation, logistics, and many others. However, before the cannabis industry became legitimate as early as the 2000s, a massive number of individuals have been incarcerated for running their cannabis businesses, albeit once illegitimate. Moreover, a large population of individuals is currently behind bars for minuscule amounts of weed. As an industry of ‘firsts,’ the cannabis industry is now on pace to become one of the most trailblazing sectors ever.
Climate of the present-day cannabis industry
Since the days of prohibition, cannabis has become more public and less taboo. As aforementioned, the cannabis industry is shattering sales records every month. Furthermore, many emerging markets in various provinces will begin to provide cannabis to their residents. Globally, the cannabis market is also seeing steady growth and overwhelming revenue with each new fiscal year. The cannabis industry has diversified itself and no longer is strictly cannabis dispensaries and delivery services.
Quick recap of cannabis prohibition
Statistically, there is no one alive who has witnessed legal cannabis on a federal level. This is because cannabis has been federally prohibited for nearly 100 years. The prohibition came after an overwhelming propaganda campaign. This attack was led by a man named Harry Anslinger with the famous timber baron William Randolph Hearst. The latter is best known for organizing the most extensive newspaper publication of then and now: the New York Times. These men feared the many possibilities of cannabis in its industrial form: hemp. Hemp is many more times stronger and more durable than materials such as cotton, timber, and nylon. These god-like feats intrigued Anslinger, Hearst, and other timber barons. Yet, instead of harvesting the beneficial properties of cannabis and hemp for consumers, Anslinger, with Hearst and the company’s help and finances, decided to suppress cannabis across the globe. Unfortunately, Anslinger and Hearst were successful. Expect additional news on the MORE Act by the end of the year.
How the cannabis industry is moving forward
The cannabis industry is one of the most socially-forward sectors ever. When considering the origins of the prohibition and industrialization of cannabis, its level of consciousness makes complete sense. Many executives in the cannabis industry are familiar with how detrimental cannabis has been. Furthermore, executives realize the racial injustices associated with cannabis-related offenses.
Recently, Senate Majority Leader Chuck Schumer spoke on legalizing cannabis on a federal level. Schumer made it clear that he was in support of passing bills such as the MORE Act. The Senate Majority Leader also added that the racial injustices associated with cannabis-related offenses must be addressed in such a bill. Despite the United States’ House of Representatives passing a historic bill, nothing is set in stone surrounding the decriminalization of cannabis on a federal level. However, owners and operators of cannabis businesses understand the repercussions cannabis-related offenses on one’s record can have on their professional livelihood. This is why companies in the cannabis industry prioritize candidates who have been affected by the outdated laws surrounding the criminalization of cannabis. The MORE Act contains a few articles that address the social indifferences associated with cannabis in its current form. Summarily, the MORE Act would establish funds for public assistance with drug use and assist with the immediate expungement of millions of cannabis-related offenses.