The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
The U.K. will find out who its next prime minister will be this week as voting within the U.K.'s ruling Conservative Party comes to a close.Europe Politicsread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia were lower on Monday, as shares on a new Nasdaq-style technology board on the Shanghai Stock Exchange skyrocketed on their debut day.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Whether you're running a dispensary or you're working in an ancillary business serving the pot industry, cannabis is set to take off.
Legal sales of marijuana are expected to grow to more than $20 billion by 2022, from approximately $10 billion in 2018, according to Marijuana Business Daily.
Further, Michigan, Utah and Oklahoma may vote on cannabis reform this year, according to the Marijuana Policy Project.
Here are five facts you may not know about this budding business.
The cannabis industry employs between 125,000 to 160,000 full-time workers, according to Marijuana Business Daily. It's expected to add another 340,000 full time jobs by 2022, reflecting an estimated growth of 21 percent per year.
Those careers run the gamut, from individuals who are growing plants to those who work for "ancillary businesses" that don't involve coming into direct contact with weed, such as providing legal services.
Counting both legal and black market sales, the total demand for pot is approximately $52.5 billion, Marijuana Business Daily found.
Recreational sales are legal in Alaska, California, Colorado, Nevada, Oregon and Washington state, according to the Marijuana Policy Project. In Washington, D.C., adults over 21 can legally possess up to 2 ounces of marijuana, grow up to six cannabis plants in their home or give away up to one ounce of marijuana to another person who is at least 21. Sales are not legal in the nation's capital.
Maine permits recreational marijuana, and state lawmakers are pushing for legislation to establish a regulated market.
Starting July 1, adults over 21 will be able to purchase recreational pot at retail stores in Massachusetts.
Annual retail sales of cannabis are expected to rise by 50 percent from 2017, reaching $8 billion to $10 billion by the end of 2018, according to Marijuana Business Daily.
During the fiscal 2017, Washington state collected $219 million in legal pot income and licensing fees. The excise tax is 37 percent on retail sales.
Last year, weed taxes, plus revenue from licensing and fees, hit $247.4 million in Colorado.
New York City Comptroller Scott Stringer told CNBC that legal pot in New York could create a $3.1 billion market.