Can the U.S. Marijuana Market Continue to Expand?
BUZ INVESTORS US Marijuana Market One of the hottest industries around just got a little bit hotter; Nevada has officially legalized recreational marijuana use in the state. That means that the home of Sin City is about to offer even more pleasures that are taboo or outright illegal in many other states across the country. But what does the move mean for the U.S. marijuana market at large? A lot.
First, as is always the case, whenever a state legalizes marijuana, people are eagerly watching tax revenue. Whatever one’s thoughts are on weed, if enough people can be convinced that the benefits of legalization outweigh the negatives, the
According to the state, Nevada is expecting to bring in $60.0 million more in the next two years, with more money on the way as the industry continues to boom. (Source: “$60M in tax revenue projected as Nevada preps for recreational marijuana,” KSNV NBC, June 26, 2017.)
US Marijuana Market
That kind of cash certainly has the power to change minds in electorates across the U.S. At this point, Nevada is another drop in the slow trickle of states that are opting to have a regulated marijuana market instead of prohibiting the drug.
n obviously it would stand to reason that marijuana would see itself legalized sooner rather than later.
The Future of the Pot Stock
As it stands, there is good money to be made in the pot stock market. But realistically, the true gold rush—or should I say green rush?—will occur when the U.S. legalizes marijuana across the country.
While it’s great for countries like Canada to move forward with legalization, the pot stock big money obviously lies in bigger markets like the U.S. and the EU.
So what could motivate the U.S. government to push ahead down a path towards legalization? Well, first, we have to understand what motivates the current president, Donald Trump.
New Frontier Data, a business intelligence firm, estimates that as many as 250,000 new jobs could be created by legal weed by 2020. (Source: “Pot comes to Sin City: Recreational use is now law in Nevada as weed makes for strange bedfellows,” CNBC, July 1, 2017.)
If Trump is serious about bringing jobs to the U.S., then pot may serve as a convenient tool to enact his vision.
Also consider that one of the top Trump advisors, Roger Stone, is a huge proponent of legalized marijuana. The political operative has his own documentary about how influential he was on the president during the campaign, and as such, could be an important figure in the fight for country-wide legalization.