Join Miggy and Josh Kincaid, finance specialist from the Talking Hedge, talk about the past, present, and future of the cannabis industry.
2024 Predictions for Cannabis Legalization
As we look ahead to 2024, the future of cannabis legalization seems promising. The momentum for change has been steadily building, and it is expected to reach new heights in the coming years. Here are some predictions for what we can expect to see in the cannabis industry by 2024:
1. Federal Legalization: One of the most anticipated milestones is the legalization of cannabis at the federal level in the United States. While progress has been made with individual states legalizing cannabis for medical and recreational use, a nationwide legalization effort is gaining traction. By 2024, it is predicted that the federal government will finally remove cannabis from the list of controlled substances, allowing for a regulated and thriving cannabis market across the country.
2. International Expansion: The global cannabis market is poised for significant growth in the next few years. As more countries around the world recognize the medicinal and economic potential of cannabis, they are likely to follow suit and legalize its use. By 2024, we can expect to see an increasing number of nations embracing cannabis legalization, leading to expanded trade and investment opportunities in the industry.
3. Innovation and Research: With increased legalization, the cannabis industry will witness a surge in innovation and scientific research. As more resources are allocated towards studying the plant’s potential benefits, we can expect to see exciting developments in areas such as medical cannabis, pharmaceuticals, and alternative uses for hemp. By 2024, groundbreaking discoveries and advancements in technology are likely to reshape the industry and open up new possibilities.
4. Social Acceptance: As cannabis becomes more widely legalized, the stigma surrounding its use is expected to diminish. By 2024, public perception of cannabis is likely to shift significantly, with greater acceptance and understanding of its medicinal and recreational value. This cultural shift will not only benefit consumers but also create a more inclusive and diverse industry that reflects the needs and preferences of a broader population.
5. Economic Boom: The cannabis industry has already proven to be a lucrative sector, generating billions of dollars in revenue despite its limited legal status. With further legalization and mainstream acceptance, the economic impact of cannabis is expected to soar. By 2024, the industry is projected to create numerous job opportunities, stimulate local economies, and contribute significantly to tax revenues. This economic boom will attract entrepreneurs, investors, and innovators from various sectors, further fueling the industry’s growth.
In conclusion, the future of cannabis legalization in 2024 looks promising. With federal legalization on the horizon, international expansion, increased innovation and research, social acceptance, and an economic boom, the cannabis industry is poised for unprecedented growth. As we move towards a more inclusive and progressive approach to cannabis, we can anticipate a brighter future for both consumers and industry stakeholders.
2024 Cannabis Crystal Ball Predictions, including:
*lounges & lockers
*Strain stability (consistent availability)
*Increase in SKUs nationwide
*S3 is BIG Pharma’s trojan horse
*5 year sideways movement for the industry overall
*More automation, price compression, & consolidation
Summary Unleashing Mind-blowing 2024 Predictions With Miggy And Josh Kincaid:
00:00 – Intro
01:03 – 2019 prediction recap
01:34 – Crystal Ball explanation
02:36 – MJ Biz Con recap
03:35 – thoughts from an activist to owner
07:59 – Doom & Gloom, or Naive?
09:45 – Distrobution is key
11:11 – Cannabis Culture
13:03 – Product innovation
16:00 – 2022 – 2023 overview
16:17 – Branding
18:31 – Josh’s prediction
19:04 – cannabis investors
28:58 -2024 cannabis predictions
30:14 – hemp bill
31:02 – MISC Category
31:21 – Cannabis Lounges
33:36 – Small Biz over MSOs
38:42 – Safe Banking Act
40:06 – Schedule 3
44:58 – Miggy’s Predictions
52:13 – Investors’ Predictions
54:02 – Miggy’s final thoughts
57:50 – Outro
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