Finance
Weed: Next 4 states to legalize marijuana, analyst says
Tuesday’s 2018 midterm elections was a big success for cannabis advocates.
Michigan legalized recreational marijuana, and while North Dakota rejected a similar measure, both Missouri and Utah voted in favor of medical marijuana.
So far, 10 states and Washington, DC, have legalized the full use of marijuana, and 33 states and Washington, DC, have legalized medical marijuana.
With the Democrats winning key Governor races, and securing more seats in their state Houses/Senates, a few more states are likely to soon legalize marijuana.
According to Cowen Research Group, four states in particular look to have ample runway to legalize cannabis as they now have a Democratic Governor and support from either the state’s House and/or Senate.
US demand for cannabis is strong, according to Cowen analyst Vivien Azer. By her calculation, after factoring in Michigan, the total addressable market for adult, medical, and illicit use of marijuana will be $24.5 billion by 2030. That number will likely approach $34 billion if these next four states legalize the drug.
Here is a snapshot of the four states that are next to legalize the drug, according to Azer:
-
Business7 days ago
This camera trades pictures for AI poetry
-
Business6 days ago
TikTok Shop expands its secondhand luxury fashion offering to the UK
-
Business7 days ago
Boston Dynamics unveils a new robot, controversy over MKBHD, and layoffs at Tesla
-
Business5 days ago
Mood.camera is an iOS app that feels like using a retro analog camera
-
Business5 days ago
UnitedHealth says Change hackers stole health data on ‘substantial proportion of people in America’
-
Business4 days ago
Tesla’s new growth plan is centered around mysterious cheaper models
-
Entertainment5 days ago
Furious Watcher fans are blasting it as ‘greedy’ over paid subscription service
-
Business4 days ago
Two widow founders launch DayNew, a social platform for people dealing with grief and trauma