The marijuana industry is growing very rapidly. Just twenty years ago, there was not a single state that would even consider selling marijuana. Now, though, there are almost two dozen states that have legalized medical marijuana and four that have legalized adult recreational use. Moreover, most of the Unite States would like to see an end to the federal prohibition on marijuana; in national polls, 51% of Americans support marijuana legalization. However, there have been many obstacles such as unfavorable taxes, the inability to find banking services, and even a cruel federal government. Despite these obstacles, it seems as if Oregon is setting the standard in three ways.
Firstly, Oregon has the largest network of medical marijuana shops out of all the states. Recreational marijuana laws were approved in Oregon in November 2014, and these shops even began selling recreational pot in October 2015. As a result, consumers had access to over 250 retail outlets to buy recreational pot. Other states are currently limited in how many licenses they have handed out for recreational retailers.
Secondly, although there is an open environment with over 250 shops allowed to work in the state, regulations on opening new shops are incredibly slim. Applications must be looked over by the Oregon Liquor Control Commission (OLCC) over a month-long period. Business owners of shops, grow farms, and processors are then needed to be a resident of Oregon for at least two years, and at the moment, anyone with any felony conviction is not allowed to have a license to sell cannabis.
Lastly, Oregon is going to be the first state in the United States to try a recreational marijuana delivery service. The delivery service is expectedly going to have sundry restrictions. For example, consumers must place their orders before 4 pm, and delivery vehicles may only have up to $100 worth of marijuana with them. Also, customers can be denied if they seem intoxicated. These are just a few of the many more restrictions that Oregon needs to face if they’d like to deliver marijuana.
Oregon may very well be the leader of the marijuana industry, which means they will likely have the most success. However, just because Oregon seems like a good investment, it does not necessarily mean that you should be buying marijuana stocks. The long-term outlook for cannabis is still flowing, currently. The upcoming elections could have a huge change in the marijuana industry, though. A change in the presidency or Congress may be just what the marijuana industry needs to begin booming more.
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