Washington And Oregon Pot Biz Booming

By on March 24, 2016

In the news that surprises no one department, marijuana is big business. Our Government has been spending billions in on cannabis users in it’s misguided War On Drugs and now we get to see the other side of the coin. Legal marijuana is a tax gold mine and the burgeoning industry should be fostered, not suppressed.

Now if only we could get our Government to spend those tax dollars a little more wisely….

 

The cannabis industry is on a roll, according to the latest survey from brokerage firm Convergex. There are still a fair share of hurdles for the industry, however, although progress continues. There is now at least one startup helping these businesses open bank accounts, which can be difficult to do since marijuana is still illegal at the federal level.

Marijuana for both medical and recreational purposes is seeing “vibrant” growth as more U.S. states have opened legal markets, Convergex wrote. The team, led by analyst Jessica Rabe, says, “Our Colorado contacts reported steady pricing and customer traffic compared to three months ago, and brought in $576 million in retail marijuana sales last year – 84 percent more than in 2014.”

Via bloomberg.com

 

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