The marijuana industry is budding, and investors are really beginning to take notice. According to Cowen Co., legal marijuana sales in the U.S. have the opportunity to reach $50 billion annually by 2026, with cannabis research firm ArcView projecting compound annual growth of 26% in North America through 2021. No matter the source, few, if any, industries are growing as quickly as legal marijuana.
Underlying this sales growth potential is a discernible shift in the way the public views pot. What was once a taboo topic that a majority of folks felt should remain an illegal substance, is now a drug that 64% of respondents in Gallup’s October 2017 poll believe should be legal for adults to use. Presumably, the higher the favorability for weed goes, the more pressure will be placed on lawmakers in Washington to alter its scheduling. As a reminder, marijuana is currently a Schedule I