Six Predictions for Marijuana in 2017
The country is waiting and watching to see where the cannabis movement will go in 2017. On the one hand, we have a growing number of states legalizing pot; on the other, we’ve got an incoming attorney general whose antipathy towards marijuana use is legendary. What could it all mean for marijuana?
Forbes’ Debra Borchardt recently looked into her crystal ball and offered up a list of predictions for the marijuana industry this year. No. 1 on the list: Los Angeles Will Become The Marijuana Capital of America.
Move over Denver, Adam Bierman Chief Executive Officer of cannabis investment firm MedMen Capital believes that the City of Angels will steal the spotlight from the Mile High City. Bierman said that by some estimates, Los Angeles's medical marijuana market alone is already close to $1 billion, easily overshadowing Colorado’s entire market. The city is expected to pass an ordinance in 2017 that will clear the path for a proper licensing program and open up the recreational market. Bierman said that capital is flowing into the area for local ventures as investors begin to smell money in the emerging market.
Some of the other predictions on Borchardt’s list include an embrace of the drug by professional sports; a primetime TV show about weed (put money on it); growing interest in synthetic cannabis and craft weed; and a new focus on marijuana recycling.
One thing Debra Borchardt didn’t predict? That some prankster-turned-marijuana folk hero would alter the Hollywood sign to read “Hollyweed” at the start of 2017. Yeah, that just happened.