Some market analysts are now predicting that marijuana may be legalized in some form in every state by the year 2021. Much of their prediction is rooted in the fact that so many states have recently moved to legalize marijuana recreationally.
Last year, California, Maine, Massachusetts and Nevada all joined four other states to legalize marijuana recreationally. More than half of states have now legalized the plant for medicinal purposes.
Research from GreenWave Advisors suggests that this means legal weed is on the brink of expanding either medically or recreationally in every state. They point out a momentum existing to put the measure on the ballot in 2018 and 2020, which would lead to a wave of law changes across the country.
There are other reasons Greenware expected the marijuana industry to take off, given that the Trump administration does not further move to thwart the industry. Their report suggested that the cannabis industry would be worth as much as $30 billion by 2021. That’s in addition to another recent study by Arcview Market Research and New Frontier Data that suggested the industry would be worth $22 billion by 2020.
That kind of money drives the effort for industry expansion, as blue collar workers across America can increasingly see the industry as a new driver of economic growth – something desperately need in many parts of the country.Additionally, Americans are showing they are more open than ever for the legalization of marijuana,with about 60% of the population saying it should be regulated like alcohol and tobacco.
On the nationwide legislative level, however, there is very little momentum for federal legalization, and this isn’t expected to change anytime soon. Regardless, the efforts driven by states across the nation will almost certainly drive the eventual universal expansion of the marijuana industry.