Support for Legalizing Marijuana Hits Another Record High, National Survey Shows
Few, if any, industries are growing as quickly as legal marijuana. According to Marijuana Business Daily's 2017 report, "Marijuana Business Factbook 2017," legal U.S. weed sales are expected to grow by 30% in 2017, 45% in 2018, and an aggregate of 300% between 2016 and 2021 to approximately $17 billion. This rapid and consistent growth is exactly why investors have been drawn to marijuana stocks over the past couple of years.
But at the heart of this rapid rise in sales is a discernible shift in the way consumers view marijuana. Once seen as a dangerous drug, more and more Americans view marijuana to be less dangerous, in some instances, than alcohol. The belief is that as support for the legalization of cannabis gains steam, pressure on lawmakers in Washington to alter marijuana's scheduling will pick up. It's possible that if support for marijuana continues to increase, voters may choose to push incumbent representatives and senators out of office if their views don't represent that of their constituents.
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Source: Fool.com
