CBD Underpins Medical Cannabis' Vast Expansion
AMERICAN PRM WATER CRP (HIPH)
NASDAQ:AMEX Investor Relations:
investorshub.advfn.com/american-premium-water-corp-hiph-12049
Company Research
Source: PR Newswire
NEW YORK, Feb. 19, 2020 /PRNewswire/ -- The legal cannabis industry continues to expand around the world with major contribution to the market coming from continuous legislative victories in North America and Europe. In particular, legalization of medical cannabis and decriminalization in some countries has led to a significant decrease in black-market activity, as people are shifting to legally purchasing cannabis for medical as well as recreational use. In the meantime, local governments reap the benefits through taxation. For instance, the state of California had collected a total of USD 345.2 Million in tax revenue from legal cannabis during the first year of regulated sales in 2018. Revenue generated from these taxes encouraged the local governments to fund several development programs for education and infrastructure. Overall, data by Grand View Research indicates that the medical segment held the dominant revenue share of the cannabis market, accounting for 71.0% in 2019. Medic
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