The Cannabis ‘Gold Rush’
The Cannabis industry is going at the speed of light in regards to growth. Furthermore, there are no signs of slowing down, with the increase in demand for both medicinal and recreational marijuana.
The founder and CEO of Green Thumb Industries, Ben Kolver, says that the cannabis ‘gold rush’ is underway. Kolver relays the opportunities cannabis has in the U.S. stating ‘my phone rings a lot’. Receiving calls from companies in different sectors looking into the opportunities in the cannabis space.
Companies in the Cannabis Industry
Green Thumb industries are among the largest and most trusted cannabis companies in North America. The company was founded five years ago with a limited operating license for U.S. markets. They include Ohio and Nevada.
Kolver states that the cannabis industry is worth $50 to $80 billion, relaying that this is a conducive market, attracting a large number of operators and investors.
Recently, Canadian cannabis giant, Canopy Growth has been in the talks to purchase Acreage Holdings. Canopy Growth is one of the largest multistate cannabis operators in the U.S., so a deal of this magnitude creates much attention
The fact that the director of Canopy Growth is the former speaker of the U.S. House of Representatives, John Boehner, is a plus.
According to Kolver, this only proves his point of the potential market opportunity that exists in the U.S. and will increase interest from other investors and companies.
Why Is U.S. Cannabis Booming
According to Kolver, two factors are driving the continued interest in the cannabis sector. In the U.S., Cannabis would offer relief and reduce the opioid epidemic, which has led to the loss of many lives and would provide revenue for bankrupt states. In conclusion, Cannabis is also a chance for countries to boost tax revenues similar to the way Nevada has.