In the US, the US Food and Drug Administration (FDA) does not recognize and approve marijuana as a medicine, but throughout the country, 28 states have officially permitted the use of medical marijuana, with more states projected to implement legislation in 2017. Of the total, eight states have also made the use of recreational marijuana legal, and another four are still in the process in implementing programs. Colorado is the country’s legal cannabis state — where in 2016 it generated approximately US$1.3 billion in sales and about US$4.2 billion in tax revenue.
The relaxation of legislation in the US, however, may change under President Trump, with the Federal Government expected to push for enforcement of federal laws, which still lists marijuana as an illegal substance. This may put the federal government in conflict with state laws. In the meantime, the industry — both in the US and globally — continues to grow. The global retail demand for marijuana, according to the CEO of Privateer, will climb of an annual value of US$100 billion in the next five to ten years.