Legalization bids boost outlook for US cannabis industryPosted by On


LOS ANGELES (AP) — Uncle Sam gave marijuana lovers more reason to celebrate this week as a bipartisan group of…

LOS ANGELES (AP) — Uncle Sam gave marijuana lovers more reason to celebrate this week as a bipartisan group of lawmakers in the House of Representatives passed a bill that would make it easier for cannabis companies to do business in states where sales are legal.

The vote on the Secure and Fair Enforcement (SAFE) Banking Act took place a day before April 20 — or 4/20 — the unofficial holiday that commemorates all things marijuana.

The cannabis industry is making strides in other ways as well. Since the November elections, several states, most recently New Mexico and Virginia, have taken steps to legalize marijuana sales for adult recreational use. Others, including New York, New Jersey and Arizona, have also gone that route. And more states are expected to follow suit.

“From a policy perspective, state by state, municipality by municipality, there’s more political will to legalize, which is going to help bring on more markets and add to the sales we have,” said Jason Wilson, banking and cannabis expert at exchange-traded funds provider ETFMG.

The flurry of states legalizing cannabis prompted analysts at Cowen to update their forecast for the U.S. recreational cannabis market to $41 billion by 2025, an increase of $1 billion from Cowen’s previous forecast.

Including illicit and medical marijuana sales, analysts expect…

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LOS ANGELES (AP) — Uncle Sam gave marijuana lovers more reason to celebrate this week as a bipartisan group of…

LOS ANGELES (AP) — Uncle Sam gave marijuana lovers more reason to celebrate this week as a bipartisan group of lawmakers in the House of Representatives passed a bill that would make it easier for cannabis companies to do business in states where sales are legal.

The vote on the Secure and Fair Enforcement (SAFE) Banking Act took place a day before April 20 — or 4/20 — the unofficial holiday that commemorates all things marijuana.

The cannabis industry is making strides in other ways as well. Since the November elections, several states, most recently New Mexico and Virginia, have taken steps to legalize marijuana sales for adult recreational use. Others, including New York, New Jersey and Arizona, have also gone that route. And more states are expected to follow suit.

“From a policy perspective, state by state, municipality by municipality, there’s more political will to legalize, which is going to help bring on more markets and add to the sales we have,” said Jason Wilson, banking and cannabis expert at exchange-traded funds provider ETFMG.

The flurry of states legalizing cannabis prompted analysts at Cowen to update their forecast for the U.S. recreational cannabis market to $41 billion by 2025, an increase of $1 billion from Cowen’s previous forecast.

Including illicit and medical marijuana sales, analysts expect…



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