A Growing Number of Product Categories Lifts the CBD Marketplace
FinancialBuzz.com News Commentary
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NEW YORK, April 5, 2021 /PRNewswire/ -- Presently, the medical cannabis sector accounts for a majority of the market share, as progress is slowly being made in removing the stigmas associated with such products. Overall, the legal cannabis market is permeating throughout the U.S. states and is helping to create a multi-billion-dollar industry. While medical cannabis still dominates that broad cannabis marketplace, the growing awareness and legalization efforts are expected to further propel the overall industry forward. For example, last week, New York became the latest state to legalize recreational cannabis, and in doing so is expected to become one of the nation's largest markets. New York's new law to tax and regulate cannabis includes various major provisions designed to create a diverse business mix of large and small operators, and it will invest 40% of the anticipated tax revenue into underserved communities; to expand medical marijuana access; and to allow for businesses such as delivery operations and cannabis cafes. Red White & Bloom Brands Inc. (CSE: RWB) (OTC: RWBYF), Trulieve Cannabis Corp. (CSE: TRUL) (OTC: TCNNF), Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF), Cresco Labs Inc. (CSE:CL) (OTC: CRLBF), Taat Lifestyle & Wellness Ltd. (CSE: TAAT) (OTC: TOBAF)