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).
On this episode of ChedHER: Soyini Chan Shue, CEO of City Safe Partners, explains her career journey from NYPD to CEO of a security company; Traci Wilk, Chief People Officer at The Learning Experience, explains the top skills and traits of a Chief People Officer - which is one of the fastest-growing job roles; Fonta Gilliam, CEO and Co-Founder of Wellthi, breaks down how she's creating a social app to help you reach your financial goals; Courtney Wiggins, Owner and Artisan at The Winsome Apothecary, is this week's Female Founder spotlight and breaks down how she's creating products that are good for the environment and your self care routine.
Vivian Barna, founder and president of All About Rabbits Rescue, Inc, explains what it takes to have a pet rabbit and encourages rabbit adoption.
Chef Danielle Sepsy shares tips on how to set a beautiful Easter table.
Lucasfilm announced Friday three new live-action films in the franchise at Star Wars Celebration Europe 2023. One of the films will feature the return of Daisy Ridley as Rey.
How Women Ascended to the Forefront of Fitness Training
A Florida family on temporary hard times after a father underwent major surgery. After things picked up, the mother surprised their sons with a new home after living with friends and a hotel.
Cheddar recommends "Beef," "My Name Is Mo'Nique," "Wellmania," "Schmigadoon," "The Last Temptation of Christ," and the podcast "The Toast."
The top entertainment headlines for April 6, 2023.
A Virginia fifth grader has made headlines for spotting an error in his science textbook. He noticed an igneous rock and a sedimentary rock had been labeled incorrectly and told his teacher who then helped get the message to the publisher, Five Ponds Press. The publisher reportedly sent a handwritten letter thanking the fifth grader for catching the error.
A two-year-toddler showed up with gifts in hand at the hospital to meet his new baby brother.
