True or False: Republicans Support Legalizing Marijuana?
Chances are that you'd struggle to find an industry within the U.S. that's growing at a faster and more consistent pace than legal marijuana.
Colorado, one of the eight states that's legalized recreational and medical cannabis, and the first state to sell adult-use weed, saw combined sales of legal weed soar by more than 30%, to over $1.3 billion in 2016. This surge in sales is a result of organic growth in recreational weed, right along with an increase in tourism to the state.
On a broader basis, Marijuana Business Daily's latest report, entitled "Marijuana Business Factbook 2017," projects legal marijuana sales growth in the U.S. of 45% in 2018, and an aggregate of 300% between 2016 and 2021, ultimately reaching about $17 billion. With pro-legalization groups rallying around multiple states for the 2018 elections (e.g., Arizona and Michigan), the chances of pot's expansion are decent if things stay as they are.
Source: Fool.com
