Although TV ratings for NFL games have been on the decline, football is still the most watched sport in the United States. It is also considered a big industry, generating approximately $14 billion last season. Could the Cannabis industry surpass the NFL in terms of generating capital?
On June 2nd, PotNetwork Holding, Inc. (OTC: POTN) announced that they were recently the highlight of a recent comprehensive research report projecting a target price of $0.25. The research report (see here) specified,
Investors know that it would be hard to find an industry with the growth potential that medical marijuana has. Predictions have been made that estimate the industry's growth anywhere between 23% - 27% annually over the next decade. According to ArcView Market Research there were $46 billion in black market marijuana sales in 2016. The potential to change these sales from illegal to legal also represents a potential for massive growth.
Cannabidiol, otherwise known as CBD, is being used for medicinal purposes to treat a range of stress and anxiety related disorders by individuals nationwide. The major difference between the cannabis chemicals CBD and THC is that CBD doesn’t get its patients high and is not used for recreational purposes.
According to a statement released on Tuesday, CBD oil giant and industry leader Diamond CBD set a new record in May for online sales, selling over $1.1 million of its popular CBD oils, edibles, and creams.
Washington DC lawmakers are still working out the fine details of the current Farm Bill, but a provision in the bill which would legalize hemp nationwide and put the responsibility of its regulation solely on the states will be in the bill. That is according to Senate Majority Leader Mitch McConnell who said Friday that the bill would be among his top priority when Congress reconvenes later this month.
