Marijuana Industry Bullish on State Success, Trump Administration
The marijuana industry was delivered a series of major victories this week at the state level, and it is bullish about opportunities at the federal level under the Trump administration as well.
Cannabis legalization ballot initiatives were approved in several states on Tuesday. Florida, Montana, Arkansas and North Dakota voted in favor of medical initiatives, and recreational marijuana measures passed in California, Maine, Nevada and Massachusetts. Arizona was the only state to reject the initiative there. Across the board, marijuana industry leaders and legalization proponents are encouraged by the votes.
"From an industry standpoint, things went almost perfect," said Dan Humiston, president of the International Cannabis Association.
The initiatives' passage could help the $7 billion legal marijuana market to more than quadruple in coming years. California is the major prize -- by some estimates, it could be a $10 billion annual market.
"Legalization in California and Massachusetts is...
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