It is distinctly possible that 2016 will go down in history as one of the biggest years ever experienced in the marijuana legalization movement. Not only did the American people offer a positive response to weed in the November election, but some of the latest market analysis shows the nationwide cannabis industry is poised to become a $23 billion dollar operation within the next three years.
Of course, with the good comes the bad, and there is certainly the possibility of some unsettling news for legal weed with the coming of the Trump Administration. The entire legal industry is on the verge of soiling its drawers right now over the possibility of Attorney General nominee Jeff Sessions ripping the Cole Memorandum to shreds.
But, according to Forbes, there are six events most likely to happen with respect to legal weed in 2017 and a shutdown isn’t one of them.
Los Angeles Assumes the Title of Marijuana Capital
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Industry insiders suggest that Los Angeles is destined to become the “Marijuana Capital” of the United States, since its medical marijuana market alone is already worth almost $1 billion – putting it in a position to put Colorado’s cannabis market to shame. An ordinance is expected to be approved in the coming year that will provide more opportunities for the recreational sector to flourish, something that investors are aggressively monitoring, according to Adam Beirman, CEO of the marijuana investment company Med Men.
Professional Sports Will Embrace Medical Marijuana
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With more influential leaders of professional sports coming forward in support of marijuana as an alternative to dangerous prescription drugs, Bierman also believes that 2017 will give way to one of the leagues amending its drug policy in a manner that allows players to use medical marijuana.
Marijuana Will Become the Subject Of A Prime Time Network Show
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There were more marijuana-themed television shows given the green light for production in 2016 than ever before, which may make it easier for some of the major networks to head in this direction in the coming year. In fact, Chuck Lorre, creator of “Two and Half Men” and “The Big Bang Theory,” is expected to unleash a pot comedy on Netflix in 2017. There is some belief that the success of these types of series, especially those produced by major players, could give way to the television industry setting aside some time slots for pot-related shows.
Synthetic CBD Could Stir More Interest
According to Seth Yakatan, CEO of biotech company Kalytera, “With AG Sessions and the DEA’s clarification that plant derived CBD isn’t legal federally, there will likely be interest in synthetic forms of CBD, which is what Kalytera has been testing the efficacy of for a few years.” However, it should be noted that these types of synthetic hemp products, which are legally imported into United States, do not hold the same power as the CBD medicine currently restricted under the Controlled Substances Act.
Expansion Of The “Craft Marijuana” Market
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Industry players believe the cannabis market will follow in the footsteps of the alcohol industry in 2017 by creating more pot products with “organic features.” Next year “will be the year of the craft bud,” Forbes suggests.
Second Chance For Cannabis Fails
Since pesticides were a heavy issue for the cannabis industry in 2016, there is now a push for lawmakers to give cannabis crops that fail pesticide testing a second chance in the marketplace. The Cannabis Business Alliance hopes to establish new protocol that would allow rejected harvests to be made into products that are not considered a health hazard.
