When Florida legalized medical marijuana last fall, people knew it would be a huge boom for the industry. Having the third most populated state in America selling cannabis could only mean massive growth. But even with high (no pun intended) expectations, in less than a year Florida's medical marijuana business is absolutely booming.
In the past year, the Florida medical marijuana has seen major growth in nearly every area. Last fall, only 300 doctors were allowed to prescribe medicinal cannabis products. Today, that number stands at 1,200. It also helps that nearly 20 percent of the state's citizens are 65-years-old or more, since elders are becoming an increasingly large demographic in the medical marijuana industry.
Demand has also been incredibly high. In June, Governor Rick Scott signed a law to end the 90-day wait period people needed to follow between getting a physician's recommendation for medical marijuana and when they could actually obtain their marijuana ID card. Many expect medical marijuana patients to grow from 30,000 to 500,000 in a very short amount of time. This will make it hard for dispensaries to keep up with demand, but so far the state's been incredibly helpful in allowing the industry to grow and adapt.
Experts project that the marijuana industry in Florida will exceed $1 billion by 2020, and that's just from medical marijuana. If they were to pass recreational marijuana in the near future, we could be looking at the next site for a "Green Rush."