According to the Denver Post, the up-and-coming Colorado pot industry is forecasting sales of $1 billion in 2015. This huge source of revenue is spurring on efforts by scientists, businesses, and investors to continue to research and produce pot products such as healthy pot edibles. Researchers are now focusing on the reportedly medicinal properties found in pot, including CBD, which is a non-psychoactive compound that is touted for its ability to act as a pain reliever. By centering their research and product development on medicinal and healthy properties of the plant, these individuals and businesses are producing a gentle, calming “high” without the impairments that result from smoking marijuana, such as paranoia and memory loss.
Industrial Hemp Products Grow in Popularity
A good example of this burgeoning trend is Chooze, a Boulder startup founded by a cognitive scientist. Chooze is tapping into the medicinal properties of CBD, which come from industrial hemp. The Hemp Business Journal of Boulder reports that products infused with CBD oil are expected to produce sales of over $85 million in 2015. One CBD oil provider alone is projecting sales of as much as $3.75 million. CBD reportedly can treat medical conditions as diverse as headaches, anxiety, and itching in pets.
Additional Pot Products Expected in Future
Aside from CBD, there are about 100 other compounds derived from the marijuana plant. Each has potential benefits that, given the proper attention and research, could result in a wide variety of different products for consumers, many of which have medicinal properties. Edibles also continue to improve, moving from junk food-like substances such as candy and cookies to healthier options that older, non-traditional individuals with chronic diseases are demanding, such as nut bars and granola. One young Denver-based company is moving away from edibles and into distilled marijuana and hemp drinks, which could eventually compete with alcohol. The current issues with edibles and drinks is that the products are inconsistent in nature. Some allege that without ensuring the quality of these products, they will not be profitable.
Regulation Continues to Grow in Colorado
As the varieties and strains of pot products continue to grow, so do regulations concerning pot passed by municipalities, counties, and the state. For example, the Colorado Marijuana Enforcement Division enacted a rule a few months ago that requires “THC” to be stamped on the products themselves, unless they are single serving sizes, which have not proven to be particularly marketable. This rule will go into effect in October, 2016 and will undoubtedly have a direct effect on what and how products are manufactured and sold.
Call Tiftickjian Law Firm, P.C., Today for Legal Advice
As regulation and laws concerning marijuana usage and possession continue to increase throughout the state of Colorado, so will prosecutions of individuals who violate these strict rules. You must educate yourself about what actions with regard to marijuana are legal and those that are illegal in the state of Colorado and how you can best avoid committing a criminal offense under Colorado law. Contact our office today at (303) DUI-5280 and learn how we can provide you with the legal advice that you need regarding the usage and possession of marijuana.