The Federal Government Just Broke Its Medical-Marijuana Promise
Few if any industries are growing at a quicker and more consistent pace in the U.S. than marijuana. A report released earlier this year by Marijuana Business Daily entitled "Marijuana Business Factbook 2017" found that the U.S. legal-weed market is expected to grow by 45% in 2018, and an aggregate of 300% between 2016 and 2021. If these projections are accurate, we could be talking about a $17 billion market by 2021. With growth like this, it's no wonder why marijuana stocks have gone through the roof in recent years.
But at the same time, the federal government has hardly adjusted its stance on marijuana. The drug remains a Schedule I substance at the federal level, meaning it has no recognized medical benefits, and is deemed to be completely illegal, right alongside LSD and heroin.
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Source: Fool.com
