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The legal cannabis industry is creating a new workforce amidst the pandemic
Cannabis remains one of the fastest growing industries in the United States with employment predicted to reach 300,000 by the end of 2020 (making cannabis as large as the beverage industry). At a time when some industries are struggling to stay afloat, the cannabis industry continues to hire.
Legalization prominent in 2020 election
The election on Nov. 3, 2020 is unlikely to best 2016 in terms of new cannabis markets, but efforts spent pushing for cannabis reform were not wasted. The five states expected to expand cannabis access represent significant growth in the total legal U.S. market, especially New Jersey with its sizable adult population of 6.7 million.
Reliving high times? Marijuana use on the rise in older men
Reflecting the changing attitudes towards cannabis across the US, cannabis use is on the rise among baby boomers. A University of Massachusetts study demonstrates that use of cannabis increased in older adults in both the states where marijuana has been legalized for recreational use and in the states where it has not.
Study: Vaping-related lung illnesses much lower in states with legal cannabis
Marijuana Business Daily
A recently published Yale study shows that the five earliest states to legalize recreational cannabis – Alaska, California, Colorado, Oregon, and Washington – all had less than one case of vaping-related lung illness per 100,000 residents. Meanwhile, states that do not allow recreational cannabis – Utah, North Dakota, Minnesota, Delaware, and Indiana – had the highest numbers of vaping-related illnesses.
UFC and E-Sports fans consume more cannabis than other sports fans
While the “beer and brat” might be a classic sports combo, a Morning Consult poll shows that E-Sports and UFC fans are probably equally likely to grab some flower, vape, or their favorite edible (and maybe a bag of Funyuns!). E-Sports and UFC are rapidly growing sports that are popular with college-educated millennial men, a coveted consumer segment.
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Partners in the News: September 11, 2020
At Bengal Capital, we have been fortunate to partner with companies that share our values and are some of the best operators in cannabis. These companies are driving growth and demonstrating the vast potential of the industry. Below we have collected articles that highlight our "partners in the news." Green Thumb Industries CEO Ben Kovler on Nevada expansion, building American cannabis and the War on Drugs: Ben Kovler has led Green Thumb Industries with a simple focus, “we start with the consumer. The business is built for the American consumer. That’s where we stick, and that’s where we see a ton of momentum,” he said. This focus has paid off as evidenced by first quarter revenues that exceeded $102 million (making Green Thumb the first US-based cannabis company to reach nine figures of revenue in a single quarter).