While marijuana legislation in the United States is rapidly opening up the use of cannabis for both medical and recreational purposes, it will be hard to know its full economic impact on America's economy for quite some time. It is possible, however, look to our neighbors to the north for a potential example.
As ABcann Medicinals CEO Aaron Keay explained to Forbes in 2017, "Marijuana production is federally regulated in Canada, and over the last year $685 million Canadian dollars [have] been invested directly in Canadian marijuana producers." Kaey reports that his company's revenues have increased a staggering 30 percent each month.
Culturally, Pew Research reports that 53 percent of Americans support marijuana legalization while New Frontier Data estimates that cannabis will create more jobs than manufacturing by 2020, so we're clearly ready to grow. Pun intended.
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