Right now, 33 states have some sort of marijuana legalization in effect.
That could balloon to 37 by the end of 2020, when four states vote on marijuana reform for the first time. Another five states that already legalized cannabis for medical use are now pushing for recreational legalization as well.
Make no mistake: 2020 is a massive year for marijuana investors.
According to the National Institute for Cannabis Investors, legal marijuana sales totaled $10.8 billion in 2018. In the next nine years, it's estimated the market could hit a whopping $2.6 trillion in annual sales. That's industry growth of 23,974% in just over 10 years.
With each state that passes marijuana reform in 2020, cannabis stocks get a bullish signal.
But before we look at the states voting this year, here are the states with marijuana legalization already...
There are numerous distinctions between what constitutes cannabis "legality" in the United States.
For instance, CBD use is legal federally. "CBD" is an abbreviation for cannabidiol. It's derived from hemp, but does not have the psychoactive elements (THC) of marijuana that make users "high." Across the United States, it is legal to purchase CBD as long as it has less than 0.3% THC.
Today, we're focusing only on states that have legalized marijuana containing THC.
Here are all of the states where medical marijuana is legal:
Here are the states where recreational marijuana is legal:
As the map above indicates, nine states will have marijuana reform on the ballot in November 2020.
And while each state will be a boon for the cannabis industry, one in particular has the potential to send cannabis stocks soaring after the vote...
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Without a doubt, the most important state for the marijuana sector this year is New Jersey.
It's the 11th largest state in the country, with a population over 8.8 million.
In December 2019, New Jersey lawmakers passed a ballot measure that adds the legalization of recreational cannabis to the 2020 ballot.
The proposal will ask all voters whether the recreational use of marijuana should be legal for those over 21 years of age.
The ballot measure is the culmination of two years of debates among state lawmakers. New Jersey Governor Phil Murphy has supported legalization, but the measure needed to be passed by the state assembly.
The National Institute for Cannabis Investors is your go-to source for reliable, up-to-date information about cannabis investing. Click here to automatically subscribe to Cannabis Profits Daily, the Institute's free newsletter, and get industry news and profit opportunities sent right to your inbox.
Under the proposal, marijuana would be taxed at the state's standard sales tax rate of 6.625%.
And it looks likely the measure will pass. According to a Monmouth University poll, roughly 68% of citizens in the state are in favor of legalizing cannabis.
That would make New Jersey just the fourth East Coast state (plus Washington, D.C.) to legalize marijuana fully.
While the election is still 10 months away, there is a way for investors to start profiting immediately...
Cannabis laws are being reformed en masse: Illinois has not only become the 11th - and second largest - state to legalize marijuana, but the first to do so by way of state legislation.
That means the medical, personal, and economic benefits of "America's Green Gold Rush" are appealing to Republicans and Democrats alike.
One cannabis research executive is hailing Illinois the "Marijuana Mecca of the Midwest," a hallmark of the rising uncapped profit potential ahead.
Once the feds end cannabis prohibition nationwide, all bets will be off - demand will boost share prices through the roof. But you can still get in on the ground floor, just in time for what could be the windfall of the century.
Illinois is already housing some of our top picks in the industry, so a few of our favorite stocks could get yet another boost.
Just click here to see how you can get them - and to potentially profit from this "unstoppable economic revolution"...
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