Earlier this year, there was excitement that the federal government might reschedule marijuana from a Schedule I substance down to Schedule III. It would be a big step toward decriminalization, which could help open up doors for the industry. But as with everything related to the government, it can take time. Seasoned cannabis investors know by now not to get their hopes up on reform.

But there's one way the industry may get a boost even if reform doesn't happen. And that's via Elon Musk. The billionaire has significant resources at his disposal, including a popular social media platform in X, formerly known as Twitter. And his plans for developing X into something much bigger should have cannabis investors optimistic about the future.

A big problem for the cannabis industry today is that it faces multiple headwinds. It's difficult to market and advertise the products. Due to the federal ban on pot, it also can't be shipped cross state lines. That means a company effectively has to grow products in every state that it wants to sell in, which is by no means efficient.

Continue reading

Source Fool.com