The U.S. may be a step closer to cannabis legalization at the federal level.
For one, in the U.S., Congress could decriminalize cannabis this spring. In fact, according to The Hill, federal proposals could establish banking services for the cannabis industry, and purge the criminal records of marijuana offenders.
Two, a growing number of Americans want to see cannabis legalization. According to a Gallup Poll, for example, 68% of U.S. adults support it.
Three, according to analysts at Prohibition Partners, global sales of CBD, medical, and recreational cannabis sales topped $37.4 billion in 2021, and could be on course to see $102 billion in sales by 2026. Even analysts at Vantage Market Research say the global market could run to $128.92 billion by 2028.
Also,according to NORML, “More than nine-in-ten Americans support making cannabis legal for either recreational or medical purposes, according to nationwide survey data compiled by the marketing firm Digital Third Coast. The findings are consistent with those reported by the Pew Research Center in April, which also determined that only eight percent of Americans say that cannabis should “not be legal” for either medical or recreational purposes.”
As we near potential legalization, investors may want to consider taking positions in Canopy Growth (CGC), Tilray (TLRY), Curaleaf Holdings (CURLF), Green Thumb Industries (GTBIF), and related ETFs such as the Advisor Shares Pure Cannabis ETF (YOLO), Advisor Shares Pure US Cannabis ETF (MSOS), and the Horizons Marijuana Life Sciences Index ETF (HMLSF).
