Canada's Proposed Tax on Recreational Marijuana Looks to Be a Major Win for Pot Producers

Canada's Proposed Tax on Recreational Marijuana Looks to Be a Major Win for Pot Producers

Few industries are seeing green like legal weed. According to a recently released report from Marijuana Business Daily titled "Marijuana Business Factbook 2017," the U.S. legal cannabis industry is expected to grow by about 30% in 2017, 45% the following year, and an aggregate of 300% between 2016 and 2021. Overall, we're talking about a roughly $17 billion industry by 2021.  It's no wonder investors are so excited about marijuana stocks.

The tide has also turned with regard to public perception. CBS News conducted a poll in 1979 that found only 27% support for a nationwide legalization of recreational pot in the United States. In April of this year, it conducted the same poll and found that support for nationwide legalization had more than doubled to an all-time record high of 61%. 

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Source: Fool.com