As time progresses, the number of states in which the medical and recreational use of marijuana is legalized continues to shoot up. As at this particular moment, medical marijuana has been permitted in 28 states. From statistics, the North American legal marijuana industry has witnessed a fast growth rate.
It is of course true that a lot of states have permitted the production, distribution, sale and use of marijuana and related products, however, it is important to outline the fact that cannabis still remains illegal as per the federal law.
In fact, even the state-owned marijuana businesses will not be shielded during the federal crack downs. As a matter of fact, most of them are harboring fears that at any point in time the Drug Enforcement Administration may pull in and definitely act against them.
The public support continues to back up the marijuana industry, and that is definitely one of the reasons behind the growth of the industry despite the mounting pressure from the administration. Singlepoint is taking advantage of any single opportunity that presents itself to do business to help boost its revenues.
It is important to bring it out more clearly that it is not only the American public which is advocating for the marijuana industry to be left alone, but some other countries as well. For instance, Canada is making tremendous steps forward towards establishing a nationwide legalization of the recreational marijuana.
In case it succeeds with time, then it will show up as the second country after Uruguay to succeed in that quest. According to some top industry executives, the move would as a matter of fact go a long way towards influencing a shift in the perspective of the government in regards to cannabis.
Expectations remain that the legalization of medical and recreational marijuana will go along way towards opening up opportunities on a number of fronts –both for investors as well as businesses.
Tension continues to build and along the same line speculation continues with a lot of people wondering what will become of the industry after the federal crackdowns pull in the scene. At the moment, we just have to wait and see.