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With recreational marijuana use legal in nine U.S. states, investors want to know: Which state will legalize recreational marijuana next?
Legal medical cannabis has the potential to create a $24.5 billion industry. That has investors closely watching the states that are getting close to allowing the same of recreational marijuana.
You see, as states legalize recreational marijuana, cannabis growers will need to ramp up their production, creating more demand for real-estate, growing equipment, and financing.
Strong demand is sure to boost the profits of any company involved in manufacturing equipment for the marijuana industry. Companies developing specialty lighting, indoor growing systems, and land for marijuana cultivation all stand to profit.
And that doesn't even get into the profits from distribution, financing, and protection of cannabis.
In order to get Money Morning readers in on the ground floor of this historic profit opportunity, we reached out to our contacts in the cannabis industry to determine which states will legalize recreational marijuana next.
We've also asked these contacts which states will legalize recreational marijuana next.
We talked to presidents, chief executive officers, and directors who lead the marijuana industry and identified three states that will likely be the next to legalize cannabis.
In fact, one of them just narrowly defeated a measure to legalize marijuana, with nearly 49% of the state's population pushing for legalization in the 2016 election.
These are next three states that will legalize marijuana, according to our research...
Next State to Legalize Marijuana, No. 3: Arizona
Wil Ralston, president of the cannabis and technology holding company SinglePoint Inc. (OTCMKTS: SING), believes that Arizona is a strong candidate for legalization.
That's because the state's last attempt to legalize recreational only failed to pass by 2% on the 2016 ballot.
Pot Stock Profits: A historic event is unfolding in California's marijuana markets, and the wealth expected to flow into this industry is record-breaking. Learn how to cash in here...
"Arizona has one of the largest medical marijuana programs in the U.S. and will get larger with full legalization," he said.
And it's likely that legalization succeeds the next time the state heads to the ballot box.
According to the site Ballotpedia.com, there are five marijuana-related initiatives coming up for in Arizona for 2018, including one to expand medical marijuana access.
While Arizona is on many experts' lists for recreational legalization soon, our experts' next prediction is even bolder...
Next State to Legalize Marijuana, No. 2: Delaware
Jack Rein is the director of national services at Acology Inc. (OTCMKTS: ACOL), a company that designs, manufactures, brands, and markets cannabis products.
Rein predicts that Delaware is likely to beat any other state to legalization in the near future. In fact, even before the 2016 election, Rein predicted that Delaware was likely to pass legalization in the near future.
"Having already decriminalized cannabis and having a population that is overwhelmingly favorable to the notion, it seems most likely that Delaware will become the ninth state to legalize recreational cannabis consumption," he says.
Delaware has had a medical marijuana program since 2013, and roughly 60% of Delaware's voters support full legalization.
While Rein and Ralston disagree on which state will legalize marijuana next, our team spoke to two experts who believe that legalization is absolutely imminent in this next state...
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Next State to Legalize Marijuana, No. 1: New Jersey
Keef Brands CEO Erik Knutson and Eyechronic founder Jeremy Jacobs believe that New Jersey will be the next state to legalize marijuana.
According to Knutson, the shift to state legislatures legalizing recreational cannabis rather than voters could fast-track New Jersey's legalization process.
"Over the past several years, we have seen a clear shift in the legalization process, as state legislative bodies have begun to work bills through the legislature to avoid ballot initiated amendments and referendums," Knutson said.
"One of the most exciting and promising states to take this approach is New Jersey. It is widely assumed that Jersey will pass adult use language this year; at that point it will immediately become the second-largest market, next to California, in the U.S."
Jacobs also believes that New Jersey is on the road to full marijuana legalization and that they could accomplish it within the next year.
"New Jersey has been on the cusp of legalization for years, and with last year's election results, I think it's safe to say that they are likely to enact legislation this year," Jacobs said.
With three American states on the cusp of granting recreational marijuana legal status, Money Morning is closely monitoring the profit opportunities created by this emerging industry.
We're especially excited by recreational marijuana profits from California, whose legal industry is exploding.
With such tremendous gains on the table in The Golden State, we've found the best way to make a profit...
Make Millions Thanks to California's Cannabis Explosion
$20.2 billion... that's the amount of money expected to pour into California's cannabis market in just the first year the state goes fully legal.
Mark my words: The savvy investors who know how to get in on the ground floor could see a small stake turn into a million-dollar windfall.
We've narrowed down the pool to three tiny California cannabis companies expected to deliver once-in-a-lifetime fortunes. But once these small stocks go from $1 to $10, to $20, or more... you may never see a chance like this again.