29 states and the District of Columbia have now legalized cannabis for medical and/or recreational purposes and public acceptance of cannabis continues to increase at a rapid pace. Cannabis has also shown encouraging signs as a treatment for various medical conditions and ailments, which should make the space of interest to investors and business enthusiasts. While cannabis remains federally illegal in the United States and publicly-traded cannabis companies are located overseas, it has grown to a $9 Billion industry in the U.S. and all estimates have it growing above $24 Billion over the next few years.
However, because of the Federal Regulations, inconsistent enforcement, and the stigma associated with cannabis there are fewer people willing to fund the cannabis economy. We believe Investors require a trusted and safe environment to learn about potential growth areas and the evolving industry faces. There is also a need to learn more about specific investment opportunities and new businesses in a productive and efficient manner. Entrepreneurs are navigating the same federal regulations, a smaller pool of investors require more education and require insight to battle the market stigma. Cannabis entrepreneurs tend to be first-time entrepreneurs and lack experience in scaling businesses and securing investments. Leafwire exists to help usher in the new cannabis economy by educating and connecting the entrepreneurs and investors that will build this industry.