Roy Bingham, CEO of BDSA, anticipates substantial growth in the U.S. cannabis market, projecting sales to reach nearly $46 billion by 2028.
This growth would be primarily fueled by the expansion of adult-use markets and adoption of new licensed and regulated markets, both medical and recreational. Key states driving this surge include New York, New Jersey and potentially Florida and Ohio, Bingham says.
Influence Of DEA Rescheduling
Following the DEA's decision to reclassify cannabis to Schedule III, Bingham predicts this will open up new avenues for medical research and investment. "We expect major medical discoveries within five years," he stated, highlighting the potential for new pharmaceutical applications and a diversification of medical cannabis products.
Bingham notes that the rescheduling will be a game-changer for research, allowing scientists to pursue careers studying cannabinoids without risking their careers. "For the last 50 years, studying cannabinoids was a career ender for young scientists. Now, they will be able to pursue it and come up with fascinating discoveries."
Economic And Operational Impacts
The rescheduling is likely to alleviate financial pressures on cannabis businesses, notably by eliminating certain tax burdens, which Bingham says will "inject much more cash and capital into the industry."
This financial liberation is expected to accelerate research and development, particularly in medical cannabis, potentially attracting substantial investment from healthcare and pharmaceutical companies. He also anticipates ...Full story available on Benzinga.com
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