MEL.A.NIN in the cannabis industry

The Cannabis industry is undoubtedly a billion-dollar business, and everyone naturally wants to invest in it. Private companies, small corporate owners, and even black celebrities are diving into the flourishing marijuana industry. Cannabis sales have significantly spiked up which has created a high competition among growers, entrepreneurs, retailers, and vendors. The business was further backed by the legalization of recreational and medical marijuana in several democratic countries.

18% of the total marijuana trading in the United States is owned by Black entrepreneurs own. However, this number could be much more considerable if the licensing process for small businesses is made quicker and easier. Huge taxes and licensing fees are a significant hindrance in the way of the flourishing black Cannabis entrepreneurs.

Several high-profile Black celebrities have also become a part of the rapidly growing marijuana market. As more and more celebrities enter the industry, the prospects for common black entrepreneurs are also increasing. Here are a few of the most eminent black names earning huge profits from the emerging market.

Wiz Khalifa

The famous black singer Wiz Khalifa has also stepped into the cannabis business by starting a partnership with River Rock Cannabis, a company based in Colorado. The dispensary provides a wide variety of marijuana strains that can be used for various purposes.

Snoop Dog

Realizing the benefits of the fast-growing Cannabis industry, Snoop Dog also jumped into the Cannabis market and launched Merry Jane, a Cannabis resource providing information about the food, style, and latest news about the industry. They have also launched a new Cannabis strain called Leafs by Snoop, which is available in tasty candies and chocolates.

Mike Tyson

The Marijuana industry of Nevada has brought about half a million dollars in the year 2018. Mike Tyson took full advantage of the growing industry and established a forty-acre Cannabis resort called Tyson Ranch in Southern California. It produces top quality THC and CBD strains.

Britney Moore and Alphonso T. Blunt Jr

Blunt + Moore dispensaries founded by these talented celebrities sell over 500 Cannabis products that include edibles, vapes, and other CBD products. The dispensary provides premium quality marijuana products in Oakland.

Whoopi Goldberg

Whoopi and Maya Medical Cannabis Is a family business owned by Whoopi Goldberg. They provide Cannabis products that can be used to ease off discomfort caused by the menstrual cycle. The products are available in California and Colorado.

Hope Wiseman

Hope Wiseman is the founder of Marry and Main Dispensary in Maryland, providing Cannabis products. She became the first African American dispensary holder in 2017. She believes that African Americans should aim at gaining a valuable position in the industry by figuring out the correct niche for them.

CJ Wallace

Wallace, along with a few partners, founded a company called Think BIG that produces Cannabis products that increases creativity and reduces stress. He and his family have a firm belief that Cannabis has the potential to deal with many of our problems.

Fab 5 Freddy

Fab 5 Freddy, the hip-hop star, has released a Netflix documentary Grass is Greener that is about the misunderstanding associated with Marijuana use and the industry. The film also shows how vital Cannabis is in the black music industry.

The Future of the Cannabis Industry

Believe it or not, Cannabis is the hottest investment option nowadays. The black market of weed produces billions of dollars each year. Now that the benefits of marijuana are surfacing, the Governments are trying to legalize the channel. 33 The states of the US have legalized medical marijuana and are expected to lift the ban on recreational Cannabis as well. The global Cannabis report suggests that legal weed revenue will barb up to about 100 billion by the year 2024. It means that a compound annual growth rate of 45.6% will be achieved in the next 4 to 5 years.

The Rise of the Cannabis Industry in Europe

Although the marijuana industry escalated quickly in North America, researchers believe Europe will be leading the Cannabis Industry in the next few years. The industry will have an exponential increase if Europe also permits the use of recreational marijuana.

Medical Marijuana Vs. Recreational Cannabis

With about 564 clinical trials being performed on Cannabis, it is expected that medical marijuana sales will outnumber the recreational weed sales. Medical marijuana is being used for chronic health diseases in half of America, and it is expected to be used around the world in no time. CBD based medicines and serums are being used for multiple sclerosis, autism, and rheumatoid arthritis.

Legalization of Recreational Weed

Some of us may not back the decision, but it is expected that recreational marijuana might be legalized in the next 4 to 5 years. The Republicans will have to work hard to convince the congress for federal legalization of Marijuana in the United States.

The Maturation of CBD Market

Cannabidiol or CBD is one of the extractions of the marijuana plant with no intoxicating properties. Research has shown that CBD is highly effective in treating the symptoms of anxiety, depression, and inflammatory conditions. Due to CBD’s health benefits, it is expected to gain more popularity and a broader market shortly.

The future of Black People in the cannabis industry

As the cannabis industry grows immensely, black people will also have amazing opportunities. However, they may have to wait for a few more years before they can equal opportunists as their fellow white citizens.

by: Nailah L. Wright Follow me on Twitter or Instagram. Check out my website.

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Nailah Lovell نائلة

Nailah Lovell نائلة

#Humanity • Noh8 • Culturally Fluid • PE • LP Crypto/Quantum a.i. 🎥 🎙🎨✍🏽🌱✖️🇯🇲☯️ 🧘🏽 “ 𝘔𝘰𝘳𝘦 𝘓𝘰𝘷𝘦, 𝘔𝘰𝘳𝘦 𝘌𝘮𝘱𝘢𝘵𝘩𝘺 “