As More States Legalize Marijuana, Investors And Marketers Line Up
Quietly on election night, overshadowed by the epic battle between blue and red, the map of America grew greener. Voters in four states — California, Massachusetts, Nevada and Maine — chose to legalize recreational marijuana. In Florida, Arkansas, Montana and North Dakota, ballot measures passed allowing pot to be used for medical purposes. (Only Arizona bucked the trend, saying no to recreational weed).
About 60 percent of Americans now live in a state where cannabis is legal or soon to be legal in some form. And with marijuana use on a steady march toward normalization, if not outright national legalization, the booming cannabis industry appears bound for even greater growth.
The smell of money is in the air. "Support for legal cannabis was one of the few mandates voters in both red and blue states delivered" Nov. 8, said Brendan Kennedy, CEO of the marijuana-focused private equity firm Privateer Holdings....
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