With The Pot Industry Poised To Hit $50 Billion By 2019, The Days Of Easy Cannabis Licensing Are Over

CHICAGO – With federal legalization efforts moving forward, pot entrepreneurs might want to focus on the recreational side of the business rather than the medical side, as major pharmaceutical companies are poised to jump in there. That's the future, according to Adam Bierman, managing partner of MedMen, a marijuana consulting firm headquartered in Los Angeles. Bierman spoke at this week's Marijuana Business Conference and Expo in Chicago.

"Right now two separate things here are intertwined [the medical and recreational sales of marijuana]," Bierman told a panel on business opportunities in states that are just now opening up marketplaces for medical marijuana: New York, Nevada and Illinois. "Once it's legalized on the federal level, you guys can't play on the pharmaceutical side. You're not going to compete with Pfizer. You have a chance to get on the recreational side because the big players aren't playing."

Today, the federal...

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