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).
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
'The Bear' has been renewed for a third season.
A new trailer out that could be a fun watch for the family, fittingly called 'The Family Plan' starring Mark Wahlberg who plays an ordinary father just with one huge secret -- he used to be an elite government assassin.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
The NYPD got a call about a dog that appeared to be drowning in a nearby pond and immediately responded to the report
Cities are pushing for stronger driving rules and restrictions as the rate of pedestrian accidents and deaths rises.
Tens of thousands of ancient bronze coins dating from the first half of the fourth century were found in the Mediterranean Sea.
One of everyone's favorite Christmas films is set to return to movie theaters.
Most of the U.S. got an extra hour of rest as most of the country turned their clocks backward by an hour for the end of daylight savings time.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
