Here is their introduction to the report
Welcome to Akerna’s mid-year report on the cannabis industry.
As the technology ecosystem for cannabis, we diligently keep up with the overall cannabis industry, which has seen so much movement and changes in just the first six months of this year.
We carefully curate this data and research-based report for anyone interested in gaining a better understanding of the fastest-growing industry in the world. You will find value in this report whether you are a business owner looking to make data-driven decisions, an investor looking to learn more about the promising cannabis industry, or a consumer interested in learning more about how the cannabis industry works to safely deliver the products you consume.
Over the past decade, we have witnessed substantial change in the political and social climate surrounding the cannabis industry, which has seen continued growth in revenue, new markets, and consumers. However, due to the struggles of operating in this emerging industry, we’re seeing consolidation where larger cannabis operators are acquiring smaller ones.
While consolidation is mainly talked about from the operator side, with big players like Trulieve leading the charge, it is also happening on the ancillary side of the industry. Ancillary cannabis companies are businesses like us that operate in the industry without ever touching the plant, such as technology solutions, farming equipment, and more.
Early this year, Democrats regained control of the U.S. Senate via a special election in my home state of Georgia. With Democrats long being the party that has supported broader cannabis reform, this election signaled to ancillary companies that federal reform is coming – and it could be legalization.
Since then, major mainstream companies such as Uber and Amazon have said they are interested in entering the cannabis industry once federally legal. This poses major competitive threats to existing cannabis technology solutions with similar frameworks.
These realizations are accelerating the need for ancillary companies to consider their post-U.S. federal legalization strategy, especially given the fact that many ancillary companies were created to solve problems that only exist because of the ongoing state vs. federal conflict. As we approach U.S. federal cannabis reform, these cannabis ancillary solutions must know their value proposition in the current and legal world.
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