The Cannabis industry is arguably the fastest growing industry in the world, with regulated marijuana sales in North America totaling $6.9 billion in 2016. According to Arcview Market Research, sales are projected to increase to $21.6 billion by 2021. As the industry is expanding and continues its upward growth, market participants have expressed a desire (and are allocating budget) for data in order to make intelligent business decisions. A few companies have begun to aggregate and provide reliable and comprehensive data - some focus on retail optimization with dispensaries as their clients, while others focus on regulation/ compliance and use non-proprietary data.
With the constant growth of this burgeoning multi-billion industry, attorneys are facing many legalities and ethical issues. This is why attorney Marc Ross, decided to teach the Business and Law of Marijuana at Hofstra University Law School in Hempstead, Long Island. He created the course three years ago and teaches a class of 25 students once a week every spring semester. The class spends time learning about the "tax setbacks and other implications that come with having a marijuana-related business."