Attorney General Jeff Sessions just sent a letter to Alaska warning the state its legal weed framework won't work. That has marijuana investors wondering if the federal government will fight against statewide legalization efforts.
But Sessions' letter isn't going to slow down the legal weed industry...
Sessions will have a hard time derailing an industry with $6.7 billion in legal North American sales in 2016 alone. Those sales are projected to climb to $20 billion by 2020.
And this 198% increase in sales will reward long-term marijuana stock investors, which we'll have more on in just a bit.
You see, it's only a matter of "when," not "if," every U.S. state legalizes medical marijuana.
A 2016 Gallup poll showed 60% of Americans favor legalizing marijuana, and a 2017 poll showed 45% had at least tried cannabis.
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Jeff Sessions' opposition to legal weed is doomed to fail, but it's not too late for investors to profit from marijuana legalization...
Jeff Sessions Questions Cannabis Framework in Alaska
On July 24, Sessions told Alaskan officials that the "2015 Annual Drug Report" released by Alaska State Troopers "raises serious questions about whether marijuana 'regulatory structures' will be effective in your state," according to the letter obtained by Huffington Post.
However, on Aug. 14, 2017, U.S. Gov. Bill Walker (I-AK) and Alaska Attorney General Jahna Lindemuth said the 2015 report was not relevant to the regulations on the legal cannabis industry.
Sales from licensed marijuana businesses did not begin until 2016, and Walker and Lindemuth argued Sessions' critiques didn't speak to "the success or failure of the new regulatory framework."
In an Aug. 1 letter, Lindemuth also said state governments should handle issues of legalization. She said Alaska has strict controls that neutralize the involvement of criminal growers, keep marijuana away from children, and ensure Alaskan citizens are fully informed about the risks of cannabis.
Jeff Sessions can keep sending all the letters he wants, but there's no sign his efforts are going to slow down marijuana legalization. Sessions' opposition to legal marijuana might even make him an outsider in the Trump administration.
Which States Will Legalize Marijuana Next?
U.S. President Donald Trump signed a bill in May that will prevent the Department of Justice (DoJ) and the Drug Enforcement Agency (DEA) from using federal funds to prosecute medical marijuana businesses operating in states where medical marijuana is legal.
That means Jeff Sessions doesn't have any choice but to leave medical marijuana businesses alone.
That's not only good news for the marijuana companies, but also for those who invest in them.
Here's how you can get in on the action and potentially turn a small stake into $100,000...
Jeff Sessions Can't Stop Pot Stock Profits
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Money Morning Director of Technology & Venture Capital Research Michael Robinson is our renowned pot stock expert and one of our most prominent and respected investing "gurus" here at Money Map Press - and for good reason.
He's been a board member for a Silicon Valley venture capital firm and a senior advisor to 12 high-tech startups.
He's also a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style.
His research is world class, too. The Oakland Tribune, Detroit News, The San Francisco Examiner, The Kansas City Times, Wealth Magazine, and American Banker have all published his reporting. He's even appeared on Larry King's syndicated radio show and is a regular guest on CNBC's "The Rundown" and FOX Business Network's "Cavuto: Coast to Coast."
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In an exclusive interview with Money Morning, Michael shares all the good news - including details on five tiny weed stocks that could potentially turn a small stake into $100,000. Click here to continue.