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The biggest winner in next Tuesday's presidential election could be America's growing legal and recreational cannabis industry. That's the biggest reason why we're investing in marijuana stocks now.
Nine states have marijuana initiatives on the ballot on Nov. 8.
Voters in five states will decide whether to legalize recreational marijuana for adults. Those states are Arizona, California, Maine, Massachusetts, and Nevada.
Meanwhile, medical marijuana initiatives are on the ballot in Arkansas, Florida, Montana, and North Dakota.
Supporters believe marijuana measures will pass in many of these states because America's attitude about pot has drastically changed over the last several years.
A Pew Research Center survey shows 57% of U.S. adults say marijuana use should be made legal. A decade ago, 60% opposed it. A new Gallup poll revealed that current support for legalizing marijuana is 60% among adult Americans. That's the highest level ever recorded.
Support for marijuana legalization reached a majority for the first time in 2013, after Colorado and Washington became the first states to allow recreational use of marijuana the year before. Alaska and Oregon followed two years later.
Currently, marijuana is legal in 25 states for medicinal use. Four states permit recreational use. As the number of states where marijuana is legal grows, so does the marijuana industry…
Investing in Marijuana Stocks as the Industry Booms
The legal marijuana industry in Colorado created more than 18,000 new full-time jobs and generated $2.4 billion in economic activity in 2015. That's according to a study conducted by economic consulting firm Marijuana Policy Group.
The report also found that marijuana has tripled the tax revenue of the alcohol industry. The research firm expects that marijuana taxes will surpass cigarette taxes by 2020. Marijuana taxes brought Colorado about $121 million in revenue last year. They say it could hit $150 million by 2020.
Nationally, legal marijuana sales grew to $5.7 billion in 2015. That was up from $4.6 billion in 2014, according to ArcView Market Research. Recreational sales ballooned to $1.2 billion last year from $374 million the year before.
ArcView's new report forecasts strong sales growth this year, with retail marijuana sales reaching $7.1 billion. That would be a 26% year-over-year increase. By 2020, legal market sales are expected to exceed $22 billion.
Money Morning recognizes the lucrative opportunities for investors in the marijuana space. But time is running out. On Nov. 8, America will vote to legalize marijuana in nine states. Dozens of pot penny stocks could skyrocket instantly. Several have shot up 413%, 307%, and 172%, to name a few. The Roadmap to Marijuana Millions gives you 30 pot stocks which could double your money. Don't miss out on the greatest wealth opportunity of your life. Click here to learn how to get a FREE copy.
- The New York Times: Election May Be Turning Point for Legal Marijuana
- Chicago Tribune: The $2.4 Billion Marijuana Industry Created Over 18,000 New Jobs in Colorado Last Night
- MSNBC: Five States Could Legalize Marijuana