The New Stuff

Inhale This! Marijuana Market Is Worth Billions


What's up fellow munchies? A new report just released shows how America's favorite green substance to smoke is bringing in a tone of green! That's right kids... Medical marijuana is now a $1.7 billion market according to See Change Strategy – an independent financial analysis firm that specializes in new and unique markets.

According to MSNBC, this is the first time a definitive dollar figure has been given to the emerging medical cannabis industry. Let's put this number into perspective., shall we? Pfizer's little happy blue pill Viagra is generating only a couple hundred million more at $1.9 billion. Wow! That's almost “hard” to believe.

But that number is a drop in the bucket when we take a look at projected profit numbers should additional states legalize the sale of medicinal marijuana over the next five years. MSNBC goes on to report about doubling the numbers saying, “If another 20 states pass medical marijuana laws — as the study projects is possible — the market could grow to $8.9 billion in 2016.”

As of right now, the report claims that, “California and Colorado account for 92 percent of the wholesale and retail sales nationally.” No wonder my neighbors looked stoned. And by neighbors, I mean celebrities and Hollywood tabloid socialites.

The director of undergraduate studies at Harvard's Economics Department, Jeffrey Miron, doesn't exactly agree with some of the claims that Marijuana is bigger than booze. He commented, “Look, alcohol is a $50 billion industry in this country, and about half of adult consumers participate in this market on a regular basis.” (um...guilty) “Only 5 percent of American adults participate in the marijuana market.” (and...guilty again)

What we are seeing happen here, are people that once may have shied away from being in the so called “drug business” are seeing the numbers and the profit factor alone is changing their tunes. The guy who once scoffed at the stoned skater in Venice, is now looking at the adorable little procrastinator with entrepreneurial eyes. Let's face it, if him and his friends are only going to get themselves together long enough to accomplish one thing all day... It minds well be buying from you.

(Images: MSNBC & Jeff Parker / Florida Today, Politicalcartoons.com)

Recently Published

a20fddb2cf964258b99310acbe3398cf-80fb17993f36ad19cc861b052d2603c8ba4956a7
»

Warren Buffett and Donald Trump get into a billionaires' brawl over tax returns

Is this how billionaires fight?  Warren Buffett, the revered ...

Samsung Galaxy Note 7 is classy
»

Forget Touch ID, you can unlock the Galaxy Note 7 with your eyes

Samsung just launched the latest addition to their smartphone lineup, ...

429d38cf607c43eca1d37aed5759eb8e-005436dfd1c56bdcc0ef7c64726643d7132a2e1a
»

Jimmy Fallon named as next Golden Globes host

BEVERLY HILLS, California — Jimmy Fallon has been tapped to ...

NFL_Snapchat_322-50bc2eda923f3c1498b52590c3a645e100a19724
»

The NFL — and football highlights — are coming to Snapchat Discover

Are you ready for some football (in Snapchat Discover)? Snapchat and ...

browniepan-7d5fe6899c1b9db3e416d8b9aaefcc537d7b9079
»

Restaurant revolutionizes the way brownies are sold

Not all brownies are created equal. There are many variables that ...

https---blueprint-api-production.s3.amazonaws.com-uploads-card-image-131488-AP_16181711733011
»

The Academy just took a huge step toward ending #OscarsSoWhite

LOS ANGELES — For all the grief the Academy of Motion Picture ...

G. Star Swain Sings
»

Tourist's national anthem performance astounds onlookers at Lincoln Memorial

[embedded content] Take note, would-be pop stars: this is how you ...

card-image-131157-FB_media
»

Baby pics > news hits: Facebook loves 'friends and family,' cools on media

Another day, another chapter in Facebook's love/hate relationship ...

Lady Gaga and 48 more celebs honor Orlando victims in video by Ryan Murphy
»

Lady Gaga and 48 more celebs honor Orlando victims in video by Ryan Murphy

[embedded content] Ryan Murphy can bring together star power like ...