Thankfully, we’re bidding a (not so fond) farewell to 2020. It’s been a year of crisis, upheaval, and for many, despair that no one is sad to see go.
The good news is, a brand new year, and all that it promises is upon us! And as far as things go in the cannabis world, there’s a lot to look forward to in 2021. At least we hope so, right?
Well, the team here at Cannawayz.com is bullish on the future of cannabis in 2021. In fact, we’re making several predictions on important new developments guaranteed to positively impact cannabis in the coming year…
Cannabis Will NOT Be Legalized at the Federal Level
The MORE Act made uuuuuuge splash (just after the Presidential election) when it was passed in the US House of Representatives.
This unique piece of legislation would effectively legalize cannabis. Unfortunately, the US senate declined to consider a vote on the legislation before this year’s session closed. So, the bill will have to be reintroduced in 2021. Which it undoubtedly will. But the Republicans are likely to retain control of the Senate (following the upcoming run-off elections in Georgia), thus the MORE Act will probably not pass in 2021.
But, in a way, that doesn’t matter. The introduction and passage (in the House) of this bill the farthest federal cannabis legislation has come to this point. And with cannabis legalization now a part of the “national conversation,” along with the majority of states passing some form of legalization, the final countdown to federal legalization is on.
Cannabis Will Be Easier Than Ever to Buy (Legally)
Over 40 states have legalized cannabis to some degree. The proliferation of cannabis stores continues. And the number of cannabis delivery services is soaring.
In short, you’ll face fewer barriers than ever before on the path to buying legal cannabis in 2021
The “Business” of Cannabis Will Rebound
We need to tease this one out a bit. To be clear, cannabis sales in 2020 saw 65% increase over the prior year. This represents a uuuuge spike in demand, not to mention soaring gross sales receipts.
However, investment in the cannabis industry TANKED. Of course, the pandemic played a big part in this decline, as investments in retail-based businesses were scaled back across the board.
But the pandemic also fueled sales, which did not escape investors' attention. And will likely result in a surge of investment capital flowing into the cannabis industry in 2021.
The “Cannabis Lifestyle” Will be More Widely Accepted
Martha Stewart and Gwyneth Paltrow, two major leagues “mainstream figures” are both involved in cannabis companies. And celebrity-endorsed, backed, or straight-up owned by cannabis businesses are steadily rising.
CBD oil is increasingly being recognized as a cure-all for just about anything that ails you.
And once the pandemic finally subsides, cannabis lounges are going to be a hot ticket, not to mention a prevalent “Main Street” business.
New Strains Will Continue to Proliferate
Legalization, increased demand, which has yielded mounting sales, and growing mainstream acceptance are all driving the “science” behind cannabis.
This has cannabis chemists (well, botanists, really) tinkering with any and every crossbreed you can imagine.
And this is great news for those who suffer from certain ailments and turn to cannabis for relief. Because as breeders drill down on the component effects of various strains, they’re able to develop hybrids that can more readily address specific issues.
So, keep an eye out for new strains that can help battle insomnia, anxiety, poor appetite, and more.
Check Back Next December and Grade Our Results
Are we full of hot air? Only time will tell ;---)
But regardless, we invite you to drop by Cannawayz.com this time next year and see how well we did. And at the same time, you can check out our 2022 predictions, too.
In the meantime, Happy New Year!