The growth opportunities in the marijuana industry are massive. One estimate from Fortune Business Insights has the global industry growing to nearly eight times its value to more than $444 billion by the end of the decade. But a lot of that hinges on what happens with legalization, both in the U.S. and around the globe.

There hasn't been any significant reform in the U.S. (at the federal level), but investors are getting excited about recent developments. And that enthusiasm could soar higher in the weeks and months ahead.

Late last month, there was news that the Department of Health and Human Services recommended that the U.S. government reschedule marijuana. After conducting an 11-month review, the department concluded that marijuana doesn't belong in the same classification as heroin and other harmful drugs. The proposed change would reclassify marijuana from a Schedule I substance to a Schedule III substance, where the Drug Enforcement Administration (DEA) says there is a "moderate to low potential for physical and psychological dependence."

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Source Fool.com