How to Make Money from Marijuana Without Ever Touching a Plant

From funds to private equity to fertilizer stocks, the fast-growing cannabis industry is providing outsized opportunities.

Let’s take a pause from the high drama of Donald Trump and politics to recognize that Nov. 8 was also a watershed moment in the decades-long campaign to legalize cannabis. 

Voters approved measures legalizing the adult use of cannabis in four states, including California. Medicinal use of cannabis was approved in three additional states and expanded in one other.

Not only does this represent a political sea change, but it will be an important catalyst to the fastest-growing industry in the U.S.: legal cannabis. Already many are starting to realize that moving an industry estimated to be worth tens of billions from the black market to a legal, regulated one may create one of the bigger investment opportunities of our lifetime.

The overall market in the four states and the District of Columbia, where...

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