Legal Cannabis Industry Is Coming of Age

palmbeachdaily (42)in #steem • 5 years ago

I expected a smelly, run-down store with a cashier behind a sheet of old, browning plexiglass.

I’d pictured wading through a sea of hippies wearing tie-dye T-shirts in some shady part of town.

I feared for the worst…

But my experience was much different.

And that’s great news for this up-and-coming industry. But before I tell you where I went, let me tell you why I was going…

Desperate for a Cure

For nearly a year, one of my friends has suffered from sporadic pain in her right elbow. She doesn’t know what it is. It might be tennis elbow, even though she doesn’t play tennis.

And like many people, she avoids the doctor as much as possible. She tried every other treatment first: yoga, massages, essential oils, etc.

Nothing worked…

So during a recent trip to Las Vegas, I thought I’d get her a newly legalized treatment: CBD oil.

If you’re a regular reader, you know we’ve been following the legalized cannabis trend. We think this burgeoning market is the best opportunity since cryptos for ordinary investors to turn tiny stakes into life-changing gains.

You’re probably already familiar with another cannabis product: marijuana (also known as pot or weed). It contains tetrahydrocannabinol, or THC. It’s the psychoactive compound that makes people feel “high.”

The federal government lists marijuana as a Schedule I drug. So it gets the same treatment as heroin, LSD, and ecstasy. But CBD comes from another cannabis product called hemp. And unlike marijuana, CBD doesn’t get you high.

Until recently, the federal government banned all cannabis products. However, a recent bill signed by President Trump legalized hemp and CBD products. And it’s created a huge tailwind for the industry…

Huge Tailwind

In December 2018, President Trump signed a farming bill legalizing industrial hemp as a crop. It lifted restrictions on the sale, transport, and possession of hemp-derived products.

That’s good news for farmers—and people suffering from pain, like my friend…

You see, clinical studies show that CBD can be a natural wellness remedy for pain, inflammation, anxiety, and a whole lot more, too. And I wanted to help my friend while researching the growing CBD health industry.

So to kill two birds with one stone, I booked a trip to Las Vegas to visit Planet 13—the world’s largest cannabis dispensary…

To enter the store, you need to show identification. As you can see in the picture below, it’s a well-maintained facility full of ordinary customers…

(The interior of Planet 13)

My “budtender,” Dylan, showed me around the store and answered all my questions about the products and business.

He said many customers don’t smoke marijuana; some prefer “edibles” to avoid the smell of smoke. But a lot of people simply want CBD to treat their ailments.

(With my budtender, Dylan)

Planet 13 was a far cry from the sleazy joint I’d imagined. In fact, it looked more like an Apple Store. I’m sure many other dispensaries across the country do, too.

I bought a vial of CBD oil for my friend. Although it hasn’t completely eliminated her sporadic pain, she says it’s less frequent and doesn’t hurt as much.

And she’s not the only person I know using CBD to treat pain. Here’s what world-renowned cryptocurrency expert Teeka Tiwari recently told me…

I have a lot of pain in my joints from lifting weights—especially in my shoulder. And while CBD doesn’t eliminate the pain, it drastically reduces it. Its anti-inflammatory effects are real.

In the past, I’d wake up with every joint in my body hurting. I’d have to gradually get out of bed. Some days, it took much longer than others.

But I started taking half a dropper full of CBD every day, and it’s had an outstanding effect. I can move again like I did in my early 30s. And it no longer takes forever to get out of bed. Getting up the stairs isn’t a struggle anymore, either.

So from my personal experience, it’s remarkable.

It’s no wonder some people are calling CBD a “miracle” drug…

Legal Cannabis Is Big Business

CBD has the potential to treat numerous health problems and will be a boon to the pharmaceutical industry. But it has even more potential as a cash crop.

You see, hemp has about 50,000 industrial uses. You can use it to make clothes, paper, and biodegradable plastics. So we’re going to see a lot of hemp and CBD added to thousands of products.

In fact, the U.S. Hemp Crop Report shows acreage of hemp cultivation more than tripled from 2017 to 2018. And according to Grand View Research, the global industrial hemp market size will grow at an annual rate of 14% from now until 2025.

Legal Cannabis Industry Is Coming of Age

Desperate for a Cure

Huge Tailwind

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