Top Leaderboard, Site wide
July 31, 2014
Truthdig: Drilling Beneath the Headlines
Help us grow by sharing
and liking Truthdig:
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed

Newsletter

sign up to get updates








Truthdig Bazaar
Desert Reckoning

Desert Reckoning

By Deanne Stillman
$24.99

more items

 
Ear to the Ground

Where ‘Canabusiness’ Goes, Wall Street’s Sure to Follow

Email this item Email    Print this item Print    Share this item... Share

Posted on Jan 21, 2014

stevevoght (CC BY-SA)

Wall Street’s fat cats will be just fine with Americans rolling fat joints en masse once the other 48 states go the way of Colorado and Washington on the marijuana legalization issue. Sure enough, as Capital New York’s Joanna Molloy put it, “Marijuana is going corporate.”

Investors are becoming emboldened and putting their money into an expected $3 billion cannabis market this year—double that of 2013—from sales in medical dispensaries in 20 states and D.C., and in retail boutiques in Colorado and Washington, where recreational use is now legal.

This budding industry has “vast potential,” said Marijuana Business Daily editor Chris Walsh. “We’re talking $46 billion if marijuana is legalized nationwide,” Walsh told Capital. “More than the wine, coffee, and tea industries combined.”

However, certain other factions may not like all the developments that legalization will bring. “Consumers long used to pot’s outlaw subculture,” for example, might find that the changing scene harshes their collective mellow, Molloy opines.

More Below the Ad

Advertisement

Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

 
Right 1, Site wide - BlogAds Premium
 
Right 2, Site wide - Blogads
 
Join the Liberal Blog Advertising Network
 
 
 
Right Skyscraper, Site Wide
 
Join the Liberal Blog Advertising Network
 

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.