Investors Are Already Finding Ways To Profit From Legal Marijuana
The 8 state ballot measures passed revealed it’s only a matter of time before legalized marijuana use is the law of the land in the U.S. Investors are already finding ways to profit fromlegal marijuana.
Four states voted on Tuesday to legalize recreational pot use, while four others approved marijuana for medicinal purposes. That brings the number of Americans living in states where recreational marijuana is legal up to 20 percent of the U.S. population. That percentage rises to 58 percent and 66 percent of the U.S. population when counting states where medical marijuana is legal and where states have decriminalized the drug, respectively.
Federal legalization of recreational marijuana use is probably not around the corner. But that’s almost beside the point. States are following their own course, and will likely be even more emboldened once states-rights advocates move into the White House, the Senate, and the House of Representatives.
Besides companies directly related to the production of cannabis, many of which are characterized as pharma firms, plenty of other businesses stand to benefit. For one, you can bet big tobacco giants R.J. Reynolds Tobacco Co., Altria Group Inc., and Phillip Morris International Inc. are not standing still here. As one top tobacco executive told me last March, these companies already know how to make money in the tightly regulated industry of cigarettes, and marijuana will be no different.It’s no secret e-cigarettes and products that heat tobacco rather than burn it are also used by marijuana smokers.
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