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).
An Illinois attorney general's office investigation released Tuesday found that 451 Catholic clergy sexually abused nearly 2,000 children in the state over a nearly 70-year period, which was more than four times the 103 individuals the church named when the state began its review in 2018.
Paramount Global is set to absorb Showtime into Paramount+, creating a single streaming option to compete with the likes of Netflix and Warner Bros. Discovery’s Max. The company also plans to raise the monthly price from $9.99 to $11.99 per month after the integration.
HBO released a sneak peek of next week's series finale for 'Succession' after four seasons.
Dua Lipa is teasing her new single from the upcoming 'Barbie' movie.
Warner Bros. released the official trailer for the upcoming musical film, 'The Color Purple,' based on the novel and 1985 original film.
Toronto Blue Jays star Vladimir Guerrero Jr. noticed a young boy who had a sign that read he had beaten cancer. Guerrero decided to surprise the young fan.
From the newest 'American Idol' to the end of a 'Bill & Ted's' hot spot, here are your top entertainment headlines.
Cheddar's own Shannon LaNier is taking a staycation, and all week he'll be trying out different summer activities in New York and the surrounding area that will hopefully serve as an inspiration no matter where you live. On Monday, Shannon traveled to Huntington, New York to get a taste of the boating life. He spoke with Maggie Maskery, head of public relations for Discover Boating, about some of the best boat share options.
A guitar destroyed by Nirvana frontman Kurt Cobain sold for nearly $600,000 dollars on Saturday at an auction in a Hard Rock Café in New York City.
Scores of Boston University students turned their backs on the head of one of Hollywood's biggest studios, and some shouted “pay your writers,” as he gave the school's commencement address Sunday in a stadium where protesters supporting the Hollywood writers' strike picketed outside.
