Marijuana legalization: It's the one topic that can revive pot stocks like nothing else. The hopes of the U.S. pot market opening up in the near future can captivate even jaded investors who have lost big on the cannabis industry in recent years.

The sheer market potential is what can have investors dreaming of the possibilities of long-term gains by getting in before things take off. That's why any news, any hints, and any suggestions that marijuana legalization is on the horizon can often send pot stocks soaring. The fear of missing out (FOMO) is just too great.

President Joe Biden recently announced he would pardon people convicted of simple marijuana possession. And the Drug Enforcement Agency has confirmed it is reviewing an earlier recommendation of rescheduling cannabis so that it's no longer classified the same as heroin and other dangerous drugs.

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Source Fool.com