The FDA approved the first cannabis-based medication, called Epidiolex, on June 25, 2018, a milestone that’s hopefully the first of many federally accepted prescriptions as well as a huge step towards the federal legalization of cannabis in the US. Epidiolex treats two rare forms of epilepsy in patients 2 years and older. It’s a strawberry-flavored syrup that reduces seizures through the use of cannabidiol (CBD), a cannabis compound with analgesic, anti-inflammatory, and anti-anxiety properties and no psychoactive effects. (According to Brightfield Group, the U.S. market for CBD hit $291 million in 2017, and they estimate it to reach $1.65 billion by 2021 – a near 6X increase.)
Oklahoma has become the most recent state to legalize medical marijuana and the 30th to legalize cannabis to some degree. What’s more, nine of those states as well as the District of Columbia have all decriminalized the drug, with the entire west coast legalizing recreational use (see map from CNN below).
What does this mean for CanIDeal? As more states legalize cannabis, we’ll have more markets to operate in, which increases our revenue streams and ultimately makes CanIDeal more valuable. Moreover, as the industry grows and cannabis becomes more mainstream, the negative stigma that was once attached to the market is beginning to fade, and more investors and businesses are getting involved in the market. As such, now is the perfect time to invest in CanIDeal–the first all-inclusive digital solution, catering to the entire cannabis industry.
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