Cannabis victorious: What do the wins for marijuana legalization mean for business?
Is Big Weed on the way? Now that California, Nevada, Maine and Massachusetts have legalized recreational marijuana, investors should expect the explosion of a major new industry which could have a major economic impact on America.
One main reason why the potential in recreational marijuana is so great is that, until Colorado and Washington legalized cannabis in 2012 (Oregon and Alaska legalized it later), there was no legitimate industry in the country to speak of. By virtue of being legalized — and in particularly in a state as large, and with as vibrant an agricultural sector, as California — the recreational marijuana industry has now created a solid foundation for itself and its own ground floor.
The success of California’s initiative, Proposition 64, will allow adults to grow up to six plants for personal use. It will also permit marijuana to be sold in retail shops with a 15 percent excise tax. That said, it...
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