A green wave swept across the country on election night, fueling a potential multi-year boom.
On Nov. 4, 2020, New Jersey and Arizona voted to approve amendments to legalize the use of green for those above the age of 21. The next steps for both would be to establish rules for regulation and issue permits for vendors.
Voters in South Dakota approved it for medical use. Even voters in Montana voted to legalize, regulate and tax recreational green for adults 21 and older. Plus, we have to consider that 11 other states — Washington, Oregon, California, Nevada, Colorado, Michigan, Illinois, Maine, Vermont, Massachusetts, Alaska, and the District of Columbia already allow legal recreational use.
Plus, investors are speculating that if Joe Biden in the White House, he may be more willing to legalize cannabis on a federal level. With support only gaining momentum, the U.S. legal cannabis market could be worth up to $35 billion by 2025, according to New Frontier Data.