Experts Say One of These 3 States Will Legalize Recreational Marijuana Next
Legalizing recreational marijuana could create a $24.5 billion industry, and we’re giving our readers an insider advantage by showing them which states will legalize recreational marijuana next.
Just think about it.
Demand is going to skyrocket when anyone 18 or older is able to buy marijuana legally.
Cannabis growers will need more equipment to grow more product, and that’s more money for manufactures of specialty lights, indoor grow systems, farm real estate, and financiers.
With more equipment to grow more cannabis, growers can sell more marijuana plants to dispensaries.
Dispensaries can sell more to consumers.
Security firms, consultation services, and creative entrepreneurs will also cash in on their niches within the cannabis industry.
People are even becoming weed wedding planners and yoga instructors now.
Folks, the money carousel will just keep spinning. The only question to ask yourself is if you want to be a part of the $24.5 billion profit opportunity or sit on the sidelines.
That’s why today, as a service to Money Morning readers, I tapped into my contacts in the cannabis industry to help uncover which states could legalize marijuana next. That will help you profit by getting in early.
These aren’t bloggers in their parent’s basement making wild guesses.
These are directors, presidents, and CEOs at the forefront of the cannabis industry.
My contacts identified three states where legalization is likely next, including their top state for legalization to hit next.
And the next state that could legalize recreational marijuana just missed out on passing legalization during the 2016 elections, with 48.68% in favor of it.
Marijuana Legalization Prediction, No. 3: Arizona
Wil Ralston is the president of SinglePoint Inc. (OTCQB: SING), a publicly traded cannabis and technology holding company specializing in acquisitions of small- to mid-sized companies with an emphasis on mobile technologies and emerging markets.
Ralston said Arizona’s legalization is likely because its last attempt narrowly failed.
“Arizona has one of the largest medical marijuana programs in the U.S. and will get larger with full legalization,” he said.
Arizona seems like a solid bet, with full legalization almost happening in 2016, but this next expert has a more surprising prediction.
Marijuana Legalization Prediction, No. 2: Delaware
Jack Rein is the national services director at Acology Inc. (OTCMKTS: ACOL), a global design, manufacturing, branding, and sales company that developed The Medtainer, which allows patients to store, grind, and pour a variety of medications.
Rein told me that of the states considering legalization, Delaware is the most likely candidate to change its laws.
“Having already decriminalized cannabis and having a population that is overwhelmingly favorable to the notion, it seems most likely that Delaware will become the ninth state to legalize recreational cannabis consumption.”
And while Ralston and Rein may have different predictions, there were two other experts who agreed that this could be the next state to legalize recreational marijuana.
Marijuana Legalization Prediction, No. 1: New Jersey
Erik Knutson is the CEO of Keef Brands, which specializes in medical cannabis manufacturing consulting services, such as facility layout & design, equipment specification, standard operating procedures, extraction, compliant packaging design, and license application support.
Jeremy Jacobs is the founder of Eyechronic, a dispensary technology company that provides advertising and tools to the cannabis industry.
“Over the past several years, we have seen a clear shift in the legalization process, as state legislative bodies have begun to work bills through the legislature to avoid ballot initiated amendments and referendums,” Knutson said.
“One of the most exciting and promising states to take this approach is New Jersey. It is widely assumed that Jersey will pass adult use language this year; at that point it will immediately become the second-largest market, next to California, in the U.S.”
Jacobs is also bullish on legalization in New Jersey.
“New Jersey has been on the cusp of legalization for years, and with last year’s election results, I think it’s safe to say that they are likely to enact legislation this year,” Jacobs said.
*This has been a guest post by Money Morning*
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