Largely illegal in the U.S. for a century, weed became legal in Washington and Colorado at the start of the year after voters in those states gave the go-ahead in 2012. Further north, voters could decide in August whether Alaska will become the third state to remove prohibitions on the recreational use of pot. A poll released Monday by Quinnipiac University suggests residents of New York, a state notorious for its strict drug laws, are in favor of legalizing small amounts of marijuana for personal use by a comfortable margin of 18 percentage points.
Estimates of the total value of a legal pot industry in the U.S. are hard to establish in part because the current price of marijuana is artificially high; illegal substances, after all, are a significant risk to black market dealers and buyers, and with that comes a premium. A 2011 report by See Change Strategy, which focuses on growth in new markets, estimated that the value of medical marijuana alone would grow from $1.7 billion to about $9 billion by 2016.
Here are some companies that have begun positioning themselves to cash in on this cash crop: CONTINUE THRU THIS LINK!
By Angelo Young on February 20 2014 10:59 AM
Above: Nate Johnson, managing owner of the Queen Anne Cannabis Club, sells a marijuana strain called "Beast Mode OG", named after NFL player Marshawn "Beast Mode" Lynch of the Seattle Seahawks, in Seattle, Washington January 28, 2014. Reuters