Investors have quite the dilemma on their hands. In one corner, marijuana is one of the fastest-growing industries in the United States. ArcView Market Research estimates legal sales can grow at a compound annual rate of 30% between 2016 and 2020. In the other corner, we have an idle group of lawmakers in Washington, D.C., who are stymieing the industry's efforts to expand and profit. 

So which side will win out? For that answer, we asked two of our regular contributors on the legal marijuana debate for their opinion on whether marijuana stocks could succeed without the support of the federal government. Here's what they had to say. 

The idea was intoxicating to lawmakers in more than a dozen states where medical marijuana was a political nonstarter: Give patients with certain severe medical problems access to a type of pot that might provide relief without producing the "high" usually associated with the plant.

First of Two Parts

But two years after 17 Midwestern and Southern states began passing a series of what are known as "CBD-only" medical marijuana laws, many people they were intended to help are rising up in protest. The laws, they say, help few patients, exclude others who could benefit and force residents to commit criminal acts in order to get relief for themselves or their loved ones.

Like it or not, marijuana legalization is upon us. Though you can only purchase and use marijuana in a handful of places, you can’t deny that green fever is sweeping over America. And so far, the states that have passed legalization legislation are chugging right along — adding jobs and vibrancy to their local economies, saving money on law enforcement costs, and adding money to state budgets.

School is still in session, but members of Congress received their report cards early this year. To celebrate 420, the National Organization for the Reform of Marijuana Laws (NORML) released grades for every representative and senator in the 114th United States Congress.The grades are based on each member's 2015 voting records, their record of supporting marijuana legislation, and statements made on marijuana reform.

Here are some of the highlights from NORML's report.

1. Congress as a whole passed - barely

Thousands sent up a cheer and a collective plume of marijuana smoke at the stroke of 4:20 p.m. Wednesday in San Francisco’s Golden Gate Park.

They gathered at the park’s “Hippie Hill” to toke up, eat and drink the afternoon away into the night. A plane dragging a banner encouraging attendees to “smoke weed” circled overhead, while unlicensed vendors set up tables and makeshift tents to sell all types and strains of bud, not to mention T-shirts, pipes and food.

This year’s celebrations of all things marijuana throughout the U.S. come amid loosening restrictions and increasing tolerance for the plant’s use from Alaska to Massachusetts.

Evan Nison, the youngest member on the board of NORML, asks Hillary Clinton if she would vote yes or no to marijuana legalization should it appear on the ballot. Hillary states would have to see how the question is phrased and see more research before making a final decision.

Seeing as how it is 4/20, I thought today would be a good day to take a look at how all the remaining presidential candidates stand on the issue of marijuana policy. While mostly ignored by the media (and almost completely ignored in the debates), the issue is going to become a lot more important in the general election, as many states will have recreational legalization ballot initiatives to vote on. The issue is at least addressed by both Democrats on their campaign websites, but none of the Republicans have a single word about marijuana policy on theirs. This is likely a mistake on their part, since pro-marijuana voters are not as partisan as you might think -- the issue cuts across party lines in a way that few other contentious issues do.

Cannabis, commonly known as marijuana, pot, reefer, and grass, is a preparation of the cannabis plant that is used as a psychoactive drug or medicine.

The earliest recorded uses date from the 3rd millennium BC.  Despite its long history of use as a natural medicine, since the early 20th century cannabis has been subject to legal restrictions. Possession, use, and sale of cannabis preparations containing psychoactive cannabinoids are currently illegal in many parts of the world.

Despite the U.S. government’s prohibition of the plant, scientists have continued to study it, and people have continued to use it for both recreational and medicinal purposes.

Tommy Chong of Cheech and Chong fame, the standup/movie/music icon, has added entrepreneur to his list of achievements. But the businessman is staying in character with the Tommy Chong we have all grown to know and love.

It's all about weed.

His latest product line is called Chong's Choice, and according to Instagram, it is "a national legal and medicinal brand you can finally trust."

In 2014, his new business venture in Colorado, where cannabis production and sales are legal, began manufacturing 2 products for distribution:

As millions of marijuana aficionados light up Wednesday at 4:20 p.m. in celebration of “Weed Day,” many are blissfully unaware of the increasing interest that investors with deep pockets are showing in their favorite psychoactive herb.

A green rush is on in the marijuana industry, with legal sales of cannabis rising by a billion dollars or more each year nationwide, according to one report, and venture capitalists pouring millions into marijuana enterprises ranging from computer software and social networks to storage bags, vaporizers and insurance.