Breaking NewsPropertyCasualty360.com will be offline for scheduled maintenance Saturday, May 8 3 AM EST to 12 PM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Cannabis legislation. The cannabis industry is expected to grow 30% in 2019 despite being illegal on a federal level. (Photo: Shutterstock)

Editor’s Note: A webinar addressing the legal and insurance issues related to the legalization of cannabis will be held on Thursday, Sept. 19 at 2 p.m. ET. Register here.

By the end of 2019, the cannabis industry* is expected to employ more than 200,000 people and could be worth as much as $48 billion in the United States. By almost any means of measuring growth, the industry will expand by more than 30% in 2019 alone. However, despite the headlines proclaiming cannabis “legal” in a growing number of states, cannabis, in fact, remains illegal at the federal level — it is categorized as a Schedule I drug by the U.S. government, meaning a drug “with no currently accepted medical use and a high potential for abuse.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.