The Marijuana Vote: Controversial or Not, It’s Worth Billions… to You
Talk of legalizing marijuana in the U.S. grew like a… well, you get where I’m going.
As controversial as the topic is, it’s also one of the most explosive.
Four states had already legalized its recreational use, expanding the market 17% to $5.4 billion in 2015. In Colorado, marijuana sales exploded $996.18 million the same year.
We also knew another five states could legalize its recreational use during the U.S. election, and that the odds of success had increased.
Another four states were set to vote on medical marijuana measures, as well.
If all went according to plan, analysts believed the market could be worth $18 billion shortly after the vote.
By 2026, they think the cannabis market could be worth well over $50 billion.
That's a literal gold rush worth a great deal to smart investors. Some of the biggest winners to date have been:
- GW Pharmaceuticals (GWPH) would run from $90 to $137
- Kush Bottles (KSHB) would run from a low of $1.25 to $5
- OrganiGram Holdings (OGRMF) exploded from 80 cents to $3.09
- Canopy Growth (TWMJF) popped from $3 to $10.18
All right after California, Massachusetts, Maine and Nevada legalized its recreational use just this month, in what many believe is a changing attitude on the drug.
In fact, after the pass of Proposition 64 in California, 40 million people are living in a state that will not tax and regulate marijuana like alcohol.
Arizona did not gain sufficient votes, with 52% rejection.
Florida, North Dakota, Montana, and Arkansas approved its medicinal use, as well.
However, on the federal level, cannabis is still banned and classified as a Schedule I “dangerous drug” alongside heroin, cocaine and LSD.
But that could change as well.
We now have about a fifth of the country that has legalized its use in some way, and another four-fifths that make it illegal. For the Justice Department and other agencies to figure out how to enforce laws in some states and not others would be an issue.
Even more impressive for investors, a new report suggests that legal marijuana could generate $8 billion in gross sales in California, and $6 billion in Nevada. In Florida, medicinal marijuana could generate $2 billion in annual gross sales.
About $1.45 billion in marijuana gross sales are projected for each Arizona and Massachusetts. Maine is projected to see $287 million in gross sales yearly.
North Dakota could see $75 million just starting out.
Again, controversial or not, it’s been wildly profitable for you.