U.S. Cannabis Industry Expected to Maintain Growth Despite Trump

Article by Jennifer Kaplan, Bloomberg

U.S. Cannabis Industry Expected to Maintain Growth Despite Trump

America’s cannabis industry will continue growing at double-digit rates over the next four years — even with ambiguity emanating from the White House — as the drug gains in popularity, according to a leading marijuana-research firm.

Legalized pot in North America will continue to grow at a compound annual rate of 27 percent through 2021, according to an Arcview Market Research report released Thursday. The momentum of the past few years won’t be stopped by the Trump Administration, said Chief Executive Officer Troy Dayton.

While President Donald Trump has gone back and forth about his stance on marijuana, Attorney General Jeff Sessions has been a clear opponent and has vowed to enforce laws against drug use, including cannabis. But Dayton and others in the industry say a crackdown is unlikely because of the popularity of the movement and the funds it would take to renew the war on the drug.

“It’s just so politically unpopular it would be silly,” he said.

About 71 percent of voters say “the government should not enforce federal laws against marijuana in states that have legalized medical or recreational use,” according to a recent poll from Quinnipiac University.

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