The idea of leaving a secure job in the financial sector and in turn moving into the semi-legal business of legalized marijuana, seems quite ludicrous in regarding the past history of the country. As legalization grows, and people become more and more accustomed to the idea of legal cannabis, many are deciding to do just that. With 29 states and the District of Columbia having some sort of legalization or recreational use in play, the market is ever expanding.
Data from Frontier Data, a research and analytics firm has shown that the legal cannabis market will create more than 250,000 jobs by the year 2020. That is more than manufacturing, utilities and government jobs. The market is also expected to grow from $7.2 billion last year, to at least $24.5 billion by 2025.
Frank Lane, the founder of the Cannabis Financial Network, which educated investors on the industry, stated “California will soon have legal regulated medical and adult recreational use marijuana and it is the most populated state. California will help spur more growth in the cannabis industry that is expected to reach $35 billion in size by 2021, which means more companies will emerge to address consumer and patient demand.”
Many bankers and professionals in the financial industry are choosing to take substantial pay cuts as long as they can get in on this nutting market. They believe that the payoff will be huge in the long-run. With the industry currently running a little loose given the constant fight for legislation for the plant, it may be hard for some to find a rightful place in the market.
One investor in cannabis named Neil Demers stated, “Real estate values are increasing in states that have legalized cannabis, more professionals are starting to enter the sector and the states and local municipalities are starting to benefit from tax revenues. We have passed the tipping point and cannabis will eventually become fully legal.”
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