Politics and Business
Inside Nevada’s Cannabis Boom With Todd Denkin
Out in the Wild, Wild West, a revolution is happening. It’s a revolution that’s spurred on by the legalization of cannabis throughout a large number of states. It started in Colorado, then quickly spread to several other states around the West—including California and Nevada.
The rush of businesses to offer cannabis to both medical and recreational users is increasing at a breakneck pace. States have seen a huge variety of entrepreneurs joining the green boom. Everything from specialty cannabis strains, to new marijuana publications, to “green tourist” hotels, to world-class cannabis-based makeup products have been making store shelves.
At first glance, the cannabis boom seems to be incredibly fast-paced and simple. However, underneath the surface is a world of ever-changing laws, hard science, and hard-working professionals who toil tirelessly to bring the products they have to the masses. It’s a hyper-competitive field that people often underestimate.
Few people know this as well as DigiPath CEO Todd Denkin. Denkin’s company is one of Nevada’s most well-known cannabis testing laboratories, and has worked to clear over 15,000 samples for sale throughout the state. Ever since he started his business in 2015, he’s seen how the cannabis revolution has taken Nevada by storm.
Since DigiPath’s inception, Denkin and his team of lab technicians have helped label the CBD, terpene, and THC counts of thousands of professionally-sold plants.
“It’s amazing how much we’ve seen happen through the years. There are so many entrepreneurs who work tirelessly to overcome all the stumbling blocks the law put in their way,” he says. “The tenacity that people have at advancing cannabis use is amazing.”
According to Denkin, the number of cannabis companies has been growing at an exponential rate. The laws surrounding cannabis have been changing greatly through the years, too—though many laws still make having a cannabis-based business very difficult.
When cannabis was first legalized, local laws were extremely restrictive about how it could be used, marketed, and purchased.
Though it may be difficult to run a legal cannabis business, entrepreneurs needn’t worry about the hurdles. Denkin assures, it’s still an incredibly profitable sector that’s still evolving. Laws are expected to relax surrounding the sales of cannabis, the marketing of cannabis-based products, as well as the banking transactions involving everyone’s favorite herb.
“Most people who are testing the waters in the cannabis industry are wise to do so right now,” he explained. “This is an industry that is still ‘green’ to the point where established protocols and industry leaders are still making their names known.” Which is why Digipath is poised for breakout as they have accepted practices and protocol for testing Cannabis already in place.
The demand for cannabis has been steadily increasing, even when it comes to states that haven’t yet legalized the herb yet. Part of the reason for the heightened demand deals with the increased awareness of the benefits of medical marijuana. The other cause for demand? Medical professionals are helping reduce the stigma.
In a recent interview on the New Theory Podcast, Todd Denkin helps reveal what it’s like being in the heart of the cannabis boom of Nevada. His revelations make it clear: growing green is a growing industry—as is just about any industry tied to it.
It’s hard to see where the industry is going to be in 10 years from now. It’s obviously growing, but how much it will grow within the decade hinges on the laws that are passed about cannabis in each state. However, one thing is clear. When cannabis gets legalized at a national level (and yes, it’s a “when” rather than an “if”) we will all benefit as Todd Denkin and his team at Digipath are leading the testing revolution. Digipath is a publicly traded stock trading under the symbol DIGP on the OTC market.