7 Reasons Marijuana Has Virtually No Chance of Being Legalized in the U.S. Before 2021
If investors were to look around, they’d probably find a number of fast-growing trends, such as blockchain, cloud computing, and gene therapy in the healthcare sector. But there’s perhaps no industry with a more impressive growth rate at the moment than marijuana.
HIGHLIGHTS
- Cowen Group’s estimate of $75 billion in global sales by 2030 is fairly aggressive. Such a scenario has one key cog if it’s to be successful: the United States has to legalize marijuana at the federal level.
- There is still a clear gap in support within the republican party that currently controls the Senate and Oval Office.
- The FDA believes that considerable study needs to be undertaken to understand the benefit versus risk profile.
- U.S. businesses that sell marijuana are constrained by U.S. tax code 280E. In short, this tax code disallows pot companies from taking normal corporate deductions.
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