How do you consume your cannabis? In a vape, an edible, or rolled up in a simple joint? The answer likely depends on how old you are. Younger generations may prefer to smoke their weed, but edibles are turning out to be the main market draw for older adults.
“We’ve began to see a migration away from a smokable product as people get older,” Brett Roper, CEO at Medicine Man Technologies, told Cheddar. “They typically look for perhaps a safer, less carcinogenic-associated smokable products, or a vape, or a candy,” he said.
As different adults pick their preferred consumption methods, states are getting in on the action and raking in cash. BDS Analytics and ArcView Market Research say that regulated marijuana in North America, which includes Canada, totaled $6.7 billion dollars in 2016. That’s a 30 percent increase from the previous year. The firms expect sales to grow at a compound annual growth rate of 25 percent.
California is the latest to join adult-sales market, and analyst estimates peg its tax revenues at a billion dollars in the next year. For context, that’s twice as much as Colorado--the first state that went into the sector--has achieved in the four years recreational marijuana has been legal.
Roper says that as more states move to legalize pot, the federal government will be forced to bite the bullet.
“We believe we’ve reached a tipping-point where the Fed’s going to have to do something towards legalization initiatives,” he told Cheddar. “States are pretty much establishing what those laws look like individually.”
For full interview [click here](https://cheddar.com/videos/inside-the-marijuana-market-opportunity-in-california).
Ahead of National Dog Day on Saturday, Alina Hauptman from Best Friends Animal Society joined Cheddar News to discuss adopting a dog from a shelter and what the organization is doing to help pets that have survived the Maui fires.
Jack Dunn, bartender at Great Jones Distilling Co. in Manhattan, spoke with Cheddar News about the history of the whiskey sour and the process involved in making it.
Today is National Whiskey Sour Day and Cheddar News is celebrating! Michelle Castillo spoke with Celina Perez, head distiller at Great Jones Distilling Co. in Manhattan, to discuss how the business got started with a state-of-the-art operation and the process involved in making their fine whiskey drinks.
After decades in the ring, a Connecticut man is celebrating after obtaining his first boxing title, thanks to his wife who had a personal battle of her own and guided him.
A Jersey Shore man has painted sea shells -- nearly 500 of them -- to raise awareness around epilepsy that have traveled as far as Asia and Australia.
Joe Biden and Donald Trump are the most likely nominees for the 2024 presidential election, but you won't see many new books about either this fall. A Barnes & Noble official says there's “an exhaustion of interest" in political titles right now, even in books about Trump, Biden's immediate predecessor in the White House.
Starbucks’ Pumpkin Spice Latte goes on sale Thursday in the U.S. and Canada, as it does each year when the nights start getting longer and the fall winds gather.
Wondering what to watch this weekend? This week we have a wacky combo of a bat mitzvah battle, Jake Paul, and a weird medieval podcast.
A man in Georgia set a Guinness World Record for having the most Batman memorabilia.
Cheddar News explores how you can enjoy a more affordable getaway while staying local. The TWA Hotel at JFK Airport in New York City offers a day getaway with convenience and nostalgia as added ingredients.
