The legal cannabis market in the U.S. is still in its formative stages. Roughly a quarter of the 50 states and Washington, D.C. have legalized marijuana for recreational purposes and almost half have legalized it for medicinal use.
Analysts see significant opportunities in the U.S. cannabis market, if federal regulators here legalize the drug. That could be huge for exchange traded funds (ETFs), including the, ETFMG Alternative Harvest ETF (NYSEArca: MJ) and the newly minted AdvisorShares Pure Cannabis ETF (NYSEARCA: YOLO).
“We estimate that the total US cannabis market, if legalized today, could be worth $28 billion, increasing to $41 billion by 2028 on a pre-tax basis,” Barclays analysts said in a note to investors,” reports CNBC.
Recent data indicate many Americans support cannabis legalization.
“The General Social Survey conducted by NORC at the University of Chicago found…