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).
Cheddar News checked in from Staten Island to learn more about the Lenape people and how they lived before the Dutch settled in. Luke G. Boyd, director of education and public programs of Historic Richmond Town, discussed their story and showed their typical dwellings.
Elon Musk said his cage fight against Mark Zuckerberg will stream on 'X,' the app formerly known as Twitter.
Restaurant Week in New York City continues through Aug. 20 and Cheddar News checked out some of the most delicious and inspirational dishes at Dagon Restaurant, a Mediterranean-style eatery known for its exquisite cuisine and led by Chef Ari Bokovza.
Greta Gerwig's 'Barbie' movie has reached $1 billion in sales at the box office.
Dungeons & Dragons is updating its artists' guidelines and said illustrators will no longer work with artificial intelligence.
Luke G. Boyd, director of education and public programs of Historic Richmond Town, spoke with Cheddar News about Voorlezer's House in Staten Island, NY, the site of one of the oldest schoolhouses in the country. The historic building, which was built around the 1700s, and Boyd explained the history behind the schoolhouse.
After no big winner Friday night, the Mega Millions jackpot climbed to an estimated $1.55 billion.
Because no one matched all six numbers and won the estimated $1.35 billion jackpot, the top prize increased to $1.55 billion for the next drawing Tuesday night.
In just three weeks in theaters, “Barbie” is set to sail past $1 billion in global ticket sales, breaking a record for female directors that was previously held by Patty Jenkins, who helmed “Wonder Woman.”
Social media influencer Kai Cenat is facing charges of inciting a riot and promoting an unlawful gathering in New York City, after the online streamer drew thousands of his followers, many of them teenagers, with promises of giving away electronics, including a new PlayStation.
