What's the next big thing? If you've been following us at Money Morning, you know it's medical and legal marijuana.
In 2018, the market for legal weed and medical marijuana is going to explode.
According to Grandview Research, the global medical marijuana market should reach a value of $55.8 billion by 2025. That's thanks to rising awareness regarding medical applications such as pain management, appetite enhancement, and reducing eye pressure.
In fact, Wiseguyreports.com says that the medical marijuana market will grow at a compound annual growth rate of more than 21% by 2022.
Recreational sales are on a strong growth track, too. That market has a value of $10.82 billion this year, but that will climb to $24.07 billion by 2025, according to Statista.
It is no wonder. A Gallup poll last year showed 64% of Americans are in favor of marijuana legalization; more states are setting up legalization campaigns.
And none of this even takes into account the multibillion-dollar potential to be unlocked when the entire nation of Canada legalizes cannabis this summer, as we expect it will.
Top Five: These tiny Canadian pot stocks are set to skyrocket. Click here...
Don't forget, California already went fully legal on Jan. 1, 2018. It's a huge market, with 37 million people - and a $2.5 trillion economy.
More states, including Arizona, Delaware, and New Jersey are close to making some form of cannabis use legal this year. State Democrats in New York plan to endorse marijuana legalization at their May 23 convention.
You see, the more researchers dig, the more they find out about individual cannabinoid compounds within the marijuana plant. In fact, most of the cannabinoids studied for medical use have no psychoactive components. In other words, they work to relieve pain or treat other conditions, not get you high.
The U.S. Food and Drug Administration (FDA) is quite aware of the benefits of cannabis-based drugs. In fact, it has already approved cannabis-based drugs to treat conditions such as nausea, vomiting, and pain. Tons of research already shows that cannabinoids and cannabinoid-like compounds are useful in the treatment of serious diseases, including cancer.
Best of all, this research, legalization, and drug breakthroughs will all be massive catalysts for the best marijuana stocks...
Medical Marijuana Breakthrough: The $1 Billion Cannabis Drug Is Coming
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Money Morning Defense and Tech Specialist Michael Robinson started looking at this cannabis drug powerhouse in 2013. Since then, the stock is up 1,540%.
The company is GW Pharmaceuticals Plc. (Nasdaq: GWPH), and it develops prescription medicines using extracts derived from cannabis plants.
The company already released a cannabis-based mouth spray outside the United States, called Sativex, to treat pain in multiple sclerosis patients. The drug was approved in the United Kingdom in 2010.
But now its next drug, Epidiolex, is just weeks away from the marketplace, and it promises to be huge. Robinson expects it to top $1.7 billion in sales by 2026.
Epidiolex is a potential breakthrough to benefit the 3 million Americans who suffer from epilepsy. The FDA fast-tracked the drug to treat newborn children with the disease, and Robinson expects approval to come in 2018.
In studies involving 750 children since 2015, 50% have shown a decrease in seizures - with limited side effects. GW is preparing to apply for FDA approval, setting the stage for a major windfall as this new drug changes lives - and changes attitudes about cannabis' medical applications.
GW Pharma also has a pipeline of earlier-stage, marijuana-based drugs that are focused on schizophrenia, autism, and other conditions.
The firm should finish 2018 with roughly $400 million in the bank, enabling GW Pharma to become medical marijuana's most dominant player
However, the medical marijuana field is still wide open, because cannabis is effective in treating so many conditions. GW pharma is just one of dozens of ways to play the industry growth.
Five Penny Pot Stocks That Could Make You Millions?
A momentous government announcement is about to change the face of legal marijuana forever - and you could make more money from the stock market than you've ever seen in your life.
You see, thanks to this historic legislation, tiny pot stocks trading for under $5 are expected to double, triple, or quadruple.
We've been tracking five tiny pot stocks positioned for a massive upward jolt - the kind of gains with the power to turn a small stake into a $100,000 payday.