Business View Magazine | March 2019

249 In the United States, the use and posses- sion of cannabis is still illegal under federal law for any purpose, by way of the Controlled Substances Act of 1970, which classifies it as a Schedule I substance, determined to have a high potential for abuse and no accepted med- ical use. The Cannabis Business Alliance (CBA) is looking to modify those restrictive regula- tions and open the door for further economic prosperity and greater efficiency for cannabis businesses. “From changing federal laws, cannabis regu- lation and legislation varying widely across states, a whole host of opportunities exist for greater clarity and oversight,” said Kevin Galla- gher, Executive Director, of the Cannabis Busi- ness Alliance. “As the cannabis industry contin- ues to thrive, it is paramount that states have the ability to review and discuss the efficiency of current regulations. The more we educate manufacturers and consumers, the greater transparency we will see at local, state, and federal levels.” An increase in marijuana production has re- sulted in a myriad of employment opportu- nities and enhanced revenue. According to a report from ArcView Market Research, the cannabis industry will create 414,000 jobs across the U.S. in the next three years, with approximately one third of those jobs coming from California. BDS Analytics also projects the majority of future output will come from just