Is the U.S. Getting on Board With Marijuana Legalization?
With companies like Aurora Cannabis (NYSE: ACB), Canopy Growth (NYSE: CGC), and Tilray (NASDAQ: TLRY) catching the attention of investors and consumers alike, it's no surprise that marijuana legalization is a hot issue in the U.S. According to a report by Grandview Research, the U.S. market for cannabis was worth $11.3 billion in 2018, with an expected growth rate of 14.5% per year through 2025 -- but that might be contingent on further loosening of prohibition laws. As of 2018, 21 states have debated legislation that would legalize recreational use of marijuana, and 33 states have already legalized some forms of cannabis for either recreational or medicinal use.
Presently, marijuana is fully legal for recreational use in only 11 of those states. With the exception of Vermont, jurisdictions with legalized recreational cannabis also provision for the commercialization of cannabis products for adults. Fully legalized marijuana remains uncommon in the United States, even if it's significantly more common than it was 10 years ago.
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Source Fool.com
