Takeaway: Since its partial legalisation in different parts of the world, Cannabis has manifested into a booming industry filled with exciting opportunities for every entrepreneur. From the first FDA approved cannabis based pharmaceutical drug to full legalisation in select few states, marijuana is legal and is here to stay. An estimation predicts its growth to hit $22 billion by 2020, soon cannabis is expected to make its way to TV, online ads and print media. The increasing acceptance coupled with medical research in the cannabinoid field shows an upward trajectory for cannabis industry in the future.
While no one can correctly predict the future (except by divine revelation from God), it shouldn’t stop us from trying, particularly when it pertains to Cannabis. Although we don’t have time machines or flying cars, technology has dramatically improved, impacting tremendously on human society, forcing it to rapidly adapt too many innovative ideas since the birth of the internet.
But, instead of trying to predict where technology will take us, it would be better to consider where CBD legal status will take us in the nearest decades. Yes, we chose this because it has something to do with your health!
The Need To Forecast The Future & Legality Of Cannabis
Whether we like it or not, the green revolution ship has berthed, and medical/recreational cannabis has alighted from the deck into town.
With cannabis assuming one or more concrete forms of legality in 29 states across the United States, we are obligated to ascertain what the general public perception of cannabis would be like in 2050, as many people are rushing in to be part of the opportunity and wealth the cannabis industry is providing.
Some believe that in the next two to three decades, the views of many people regarding cannabis will change completely. The evidence of this anticipated change in perception is visible for everyone to see by looking at how much people’s ideology about cannabis changed between the periods of 1998-2018.
Cannabis has witnessed sporadic legalization, not only in America but also across the globe. It now assumes a legal status for recreational or medical purposes. The huge profit the industry generates has aroused a lot of interest, with investors and users wanting to know what the legal status of cannabis and its industrial evolution would look like in the next 50 years.
Besides, the effects of criminalization are still there for all to see. However, when you consider the two scenarios below, you can’t help but find it interesting to ponder what future are we walking into the marijuana industry?
Here we go!
Medical Cannabis Is Proving Critics Wrong
If you belong to the school of thought that says medical cannabis is nothing but a clever legal loophole that “crackheads” created to get high, know from henceforth that you’re dead wrong!
Now, all plants consist of terpenes. However, when it comes to cannabis, there is a special subcategory of terpenes famously known as “cannabinoids.”
Cannabidiol or CBD, along with tetrahydrocannabinol or THC are the two most widely studied and discussed cannabinoid strains found in cannabis, each having their own medicinal properties.
These cannabinoids (particularly with CBD) are remarkable for alleviating symptoms of seriously challenging health conditions like epilepsy and anxiety, which has prompted their popularity among users.
While the legal status of marijuana is still a question in many quarters, there was satisfactory evidence that prompted the FDA to approve the use of Epidiolex, a drug by GW Pharma, which became the first cannabis-based pharmaceutical drug in the year, 2018.
Living in a world where medical CBD’s non-intoxication properties are accepted en masse, it is not hard to see that many pharmaceutical giants like Merk & Co (MRK) and Novartis (NVS) would process it into medications and sell them—a trend that is already underway. Interested patients could easily pick them up at nearby pharmacies—a trend that is already happening with recent developments in federal laws that are carefully removing many obstacles to CBD legal status. In return, many dispensaries will find it challenging to stay in business because all-new licensing will become the norm to operate as a retail pharmacy.
As federal laws continue to favor CBD, it wouldn’t be long before marijuana and whatever side effects it has will make its way to TV, online ads and print media. Moreover, it would become more evident that marijuana side effects are nothing compared to the death-causing, bleeding diarrhea associated with today’s allergy medications.
With the cannabis industry estimated to hit $22 billion by 2020, expectations are on the high that the industry is set to experience significant growth in the future.
Recreational Cannabis Will Hit Mainstream Fame
Even if you take out the medical benefits, any drug like marijuana approve for recreational uses will always be a crowd favorite. Every smoker, tweaker, space cadet or vaper can testify of this fact. Thus, if medical usage is eliminated in favor of recreational usage, millions of people will start treating cannabis like alcohol.
Now, guess what that means! It means that the likes of Goddady (GDDY) and Anheuser Busch would uneasily be competing with Gigantic Cannabis for the most intriguing Super Bowl84 ads. To put it bluntly, the tie-dye and tacky-pot leaves covered that characterized the 1970s hippie-culture will turn out to be unbelievably chic, as pot leaves cover concert venues, Las Vegas, NASCAR, Times Squares, and more.
The use of cannabis by politicians and celebrities will almost become a qualification requirement, and cigar humidors, liquor cabinets and subzero marijuana focus storage would become like conjoined twins.
So, regardless of whichever way you look at it to pick your cannabis future, the result will always favor cannabis. And if someone has been asking you a cannabis-related question like, “is CBD oil legal?” Just point him or her to the vast number of states that have legalized cannabis for medical or recreational purpose.
It’s Only a Matter of Time
As more and more people turn to cannabis usage, it’s only a matter of time that members of the political class will hijack it to score political points in campaign promises.
By the time cannabis becomes a significant point in political discourse, considering how valuable it has been to so many people seeking alternative healthcare across the US and the world over, its legal status as an acceptable supplement would be cemented by legislation in the future.
With the recent federal laws favoring CBD, the handwriting is already on the wall. It’s no longer a question of its CBD oil legal, or not. Instead, it’s about whether its legal status would be accepted based on the medicinal or recreational use since its growth is already certain—boldly written in the future.
Final Thought On CBD Future And Legal Status
Apart from wars and natural disasters, the only reality that defines future success or death of any human-driven trend is people’s reaction.
You cannot stop or change the course when people are on a tide heading for what they believe will better their health.
CBD has attracted a lot of attention on the media for its anti-inflammatory and non-intoxicating properties. The fact that it is also much recommended by many physicians as a dependable supplement for people undergoing chemotherapy is also one of the many reasons millions of people have come to accept CBD legal status—a confirmation that its future is bright and beautiful.