Five years after Washington legalized cannabis, I think it’s safe to say it’s been a success. While it’s had an impact on medical marijuana, and our state’s licensed growers are currently struggling with a saturated market and depressed prices for their product—not to mention our lack of social consumption spaces and events, which still boggles my mind—the many benefits of our legal cannabis market still outweigh the negatives.
Connecticut, Michigan, and Ohio are expected to vote on similar legalization programs in November. Meanwhile, conversations about national legalization continue to get louder, and predictions for industry values continues to skyrocket. A recent report by BDS Analytics predicts a US cannabis market value of $23.4 billion by 2022, and a 22.3 percent annual compound growth rate.