Actions

CEO predicts cannabis industry could soon be bigger than the NFL

Posted at 2:00 PM, May 28, 2017
and last updated 2017-05-28 20:23:36-04

DENVER -- A recent report from Greenwave Advisors shows that by the year 2020, the marijuana industry could have yearly revenues of $35 billion, far exceeding the $10 billion a year in revenue generated by the NFL.

“The statistics you and I see on a daily basis are legal cannabis statistics,” Amercanex CEO Steve Janjic told Anne Trujillo on this weekend’s Politics Unplugged.

Amercanex is the first fully electronic marketplace exchange for the cannabis industry.

“The fact that legal cannabis looks like it’s approaching the $10 billion marketplace, but can you imagine that if we had legalized it across the country?” Janjic asked. “If we can capture a large portion of that that is now consumed by the black market, we can provide an entire infrastructure for states.”

Janjic says that in order to keep the industry from becoming out of control, a Wall Street-like model needs to be created that would allow people in the industry to buy, sell and trade inventories in a regulated environment.

“We have to build that framework,” Janjic explained. “The biggest problem was most banks weren’t ready for the industry and find it very expensive and time consuming to manage the clients because it’s an all cash business.”

-------

Politics Unplugged airs Sundays at 4:30 a.m. and 4 p.m. on Denver7.