The American Cannabis Summit may sound like an ironically-named version of Woodstock. Don’t be fooled, though: it is a serious that discusses the growing profits of the cannabis industry. This year’s October Summit focused on the coming legalization and how cannabis could become the next 1 trillion industry. Of course, where profits yield come also investors. Many, many wealthy investors. Right now, there are a lot of opportunities on the rise and these investors want some of the action.
LET’S NOT FORGET!
On a federal level, cannabis is still very much illegal. That being said, 63% of Americans are in support of legalizing it. On a state level, 31 states (with the inclusion of Washington D.C.) permit the use of medical marijuana. Just nine states allow for its recreational use (D.C. is also one of them).
The last American Cannabis Summit was held online, making it very accessible. Not only that, attendance was free – you just had to register to secure your place. The Summit’s most prominent figure was former Speaker of the House John Boehner (who was previously “anti-drugs”). His bit? Advocating the massive benefits of cannabis investment and how it can stimulate the economy. It’s clear to see that the tide is turning in favor of a substance that was previously so stigmatized. That’s right: marijuana now has a “mainstream” advocation.
Takeaways from the last summit
The American Cannabis Summit was heavily promoted, it’s hosting provided by the National Institute of Cannabis Investors. While there was a lot of back-and-forth going on during the event, we managed to clue in on a couple of key takeaways.
John Boehner stated that “we won’t be waiting five years” for the entire federal government to legalize cannabis. It looks like time is running out for the ban, and there is indeed a lot of pressure being mounted upon lawmakers. This pressure is added to by the rise in wealthy cannabis investors.
Tax money! That’s the magic word. Since 2014, the State of Colorado has amassed something in the region of $815 million in cannabis tax. That’s not a number to sniff at. It’s an obvious benefit to the government. Many say that it should be argument enough. For comparison, Goldman Sachs says that governments all over the globe receive around$680 billion annually in petrol and gasoline taxes. Basically, everyone wins. Investors reap the rewards through profits and governments reap the rewards through taxation.
The main hotspot of all this cannabis action will be the United States. While there is considerable activity happening in Canada, the country’s population is only a fraction of that of the USA. Which means that the market is considerably smaller. However, marijuana has been completely legalized in Canada which is likely to have a knock-on effect on the United States.
There’s a new drug on the market and it’s popular. Known as CBD, it can be described as something of a “wonder drug”. People are using it to help with a whole host of different ailments. Presently, it’s legal in 46 states (if it’s produced from hemp, rather than marijuana).
We shouldn’t forget that the cannabis market is still very much in its infancy. With that certain, there’s bound to be a few bumps in the road. While there’s a lot of profit to be made now, there’s much more to be made in the future. That money, of course, comes from brands. A similar (simple) comparison can be seen with the beer industry.
When’s the next summit taking place?
First thing’s first: the American Cannabis Summit is free to attend (it’s online) but space is limited. If you’re interested in finding out more about what profits these could bring, don’t hesitate to sign up. Anyone who wants to partake in this “green gold rush” should keep their finger on the pulse of things.
In addition, at the Summit you’ll find out…
- How cannabis is set to become a $1 trillion industry.
- Every step towards its full legalization.
- How even “average people” can massively profit.
- And much more…
Should you take part?
Yes – if you’re interested in uncovering a new way of acquiring and building wealth. As well as seeing history unfold right in front of you. The Summit is a valuable source of information and can provide a whole range of new insights into the industry, pointing you the way to profit even beyond investing. There are a lot of new opportunities out there now, so this is definitely something you should NOT miss!