In the 1990's, California's decision to legalize medical marijuana put it at the forefront of pro-pot policy. However, California's failure to pass recreational marijuana legislation in 2010 led to it taking a backseat to other states when it comes to reforming recreational marijuana laws.

Today, four states and the District of Columbia have legalized recreational pot and the experiences in those states, including better-than-hoped tax revenue in Colorado and Washington, and an increasingly laissez-faire attitude toward marijuana nationally, could mean that California is about to embrace recreational marijuana in 2016.

Preparing plans
California is already home to a thriving marijuana market. California farms produce between 60% and 70% of marijuana grown in America every year and more than 1,000 medical marijuana dispensaries already operate statewide.

The state's existing marijuana infrastructure suggests that it's well prepared to mount a compelling legalization campaign next year and that the industry will likely...