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Industry Overview

Legal cannabis is the fastest growing
industry in the United States

Overview

Over 23,000 studies tout the benefits of medical cannabis for people facing everything from Alzheimer’s disease to to chronic pain to diabetes, and cannabis is becoming mainstream. Backed by an enormous body of scientific research, ever more progressive cannabis laws, and enthusiastic public opinion, cannabis is earning the reputation it deserves as a groundbreaking health solution.

Learn more about how we’re harnessing this rapidly expanding industry and making medical cannabis available to families all over the world.

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CANNABIS INDUSTRY STATISTICS

More than 1.2 million people already use medical marijuana for a wide variety of medical problems, from cancer to epilepsy to depression. If you’re not sure how the industry is shifting, consider these statistics:

$7.1B

The estimated size of the legal U.S. marijuana industry (both medical and recreational) in 2016 – a boost of more than 25% over the year 2015. This substantial increase is linked to massive growth in Colorado, Washington, Oregon and other states expected to approve both medical and recreational use.

89%

The percentage of Americans who support the legalization of marijuana for medical treatment if prescribed by a doctor. In 2011, 74% did. Attitudes toward marijuana continue to shift, with the public becoming accepting toward marijuana use every single year.

29

States (and Washington, D.C. and Puerto Rico) that have already legalized medical marijuana, and voters in 4 states approved measures to legalize recreational marijuana last year alone. Broadening acceptance of recreational marijuana have pushed a total of 8 states to legalize adult use, and efforts are already underway for a 2018 ballot initiative in Michigan.

$1.3B

The amount of recreational and medical marijuana sales in Colorado in 2016 alone. Meanwhile, Washington’s 2016 recreational sales of $696 million were nearly double from the year prior. Tax revenue from states where recreational marijuana is legal is already being used to fund education, improve infrastructure, and feed the homeless.

$688M

The estimated size of the 2016 hemp market, including CBD products ($130 million), foods ($129.3 million), and personal care products ($163 million). This marks an estimated 20% increase over 2015, and doesn’t even include sales data from big box retailers, which could more than double the estimate.

69%

Percentage of physicians who support nationwide legalization of medical cannabis, according to a survey by WebMD/Medscape. As acceptance by the medical community snowballs, physicians are petitioning to open quality testing labs, marijuana clinics, and other businesses.

183M

Number of people who used marijuana during 2014, according to the United Nations, making it the most commonly used drug globally. This counted for 3.8% of the global population. Over 94 million people in the U.S. have self-reported using marijuana at least once.

31

Number of states that have passed legislation allowing certain farmers to legally grow hemp in 2017. At least 16 states have legalized hemp for commercial purposes, and 20 have passed laws allowing research and pilot programs.

16

States with controversial laws that allow CBD oil from marijuana, with low THC. These laws do provide limited access to CBD in jurisdictions that are highly unlikely to legalize medical marijuana. However, they overlook the fact that CBD from hemp is already available in all 50 states.

KEY INDUSTRY FACTS

CBD

CBD, THC & Cannabinoids

When many people think “cannabis”, they think of marijuana plants. And while marijuana and hemp plants are part of the same species, Cannabis sativa L., hemp is the food and fiber part of the plant, while marijuana is cultivated to maximize tetrahydrocannabinol (THC), the element that makes the user feel “high”. Both hemp and marijuana contain dozens of cannabinoids, naturally occurring chemical compounds, but it is cannabidiol (CBD), in particular that offers many health and therapeutic benefits – without the high. Hemp plants typically contain elevated levels of health-enhancing CBD, but by definition contain only trace levels of THC. This makes the hemp plant – gives hemp a lot of health potential, very attractive to those seeking an antioxidant-rich lifestyle, but not to recreational users. – without the side effects of marijuana.

Patent

Patent ‘507

In the late 1980s, scientists from the U.S. National Institutes of Health filed a patent attesting that cannabinoids not only have medicinal value, they might protect the brain against damage. Patent 6,630,507, often known as “Patent 507”, stated that cannabinoids, and in particular cannabidiol (CBD), could potentially stop cell death after a concussion, stroke, or other traumatic brain event. KannaLife Sciences, Inc.™, a Medical Marijuana, Inc. company that develops cannabinoid-based medicines for the brain, has secured the very first license to commercialize Patent 507. This means that KannaLife™ has the U.S. government’s green light to not only explore how non-psychotropic, antioxidant-rich CBD safeguards the brain from hepatic encephalopathy (HE) and chronic traumatic encephalopathy (CTE), but possibly offer it as a treatment for people with these neurodegenerative diseases.

Legality

Legality of Cannabis & Hemp

On a federal level, it is illegal to grow cannabis in the United States. Compounds from cannabis, whether they come from hemp or marijuana, are considered schedule 1 drugs, which means the government believes these cannabinoids have no medical use. However, by growing our hemp outside the U.S. and producing and exporting CBD-rich, low (or no) THC products, we’re legally allowed to serve the U.S. market, as well as over 40 other countries. As a company, we are laying the framework for broader cannabis legalization, and we’re thrilled to play a primary role in positive change within the cannabis industry.