Although marijuana remains illegal at the federal level, economists are predicting that such laws – particularly in the face of growing public support and state approval – won’t keep the free market down. It has the potential to balloon to a $100 billion industry, with states potentially raking in $28 billion a year in tax revenue.
Many people assume this cannabis industry is little more than buying and selling plants. The reality is that as technology has evolved, we are seeing ever-more sophisticated means of processing the drug, which has led to a host of offshoot industries, such as distilling and extraction.
Marijuana can be distilled much the same as liquor, producing stronger forms that can be manufactured into smaller products, such as perfumes, creams, pens and battery kits. Extraction equipment allows the drug to be extracted and used in everything from waxes to oils. Potent extracts can also be used in vaporizers – which may have triple the strength of a typical marijuana cigarette you might have found on the street in the 1960s. Continue reading