It’s 2020, and in several states, cannabis is legal now. This legalization has opened a huge market for cannabis enthusiasts. Cannabis products aren’t limited to smoking and vaping anymore, either. People can buy cannabis edibles, beverages, tablets, skincare products, and much more. As a result, the market has exploded. Investors are obviously interested in how cannabis can expand their portfolios. That said, the best investments are the most well-informed ones. Here’s what you should know about the states where it is legal.
States Where Cannabis Is Legal
In a handful of US states, cannabis is legal for both medical and recreational use. In several other states, cannabis is only legal for medicinal use. When you look for investment opportunities, keep an eye on legal status and the location of your investments. The states that have completely legalized recreational cannabis are:
- Illinois (by 2020)
When you do your research, keep in mind that there’s a difference between legalization and decriminalization. In the above states, cannabis is legal. For some other states, you may have heard that cannabis has been “decriminalized.” This means that cannabis is still illegal. However, the law won’t prosecute a person who possesses less than a small, specified amount of cannabis in these places. For now, you won’t see any dispensaries in the decriminalization states.
Legalization Means A Skyrocketing Industry
In the states where cannabis is legal, the industry has skyrocketed. That means that cannabis can be an exciting addition to an investor’s portfolio. The market has seen a lot of success lately, and if you invest wisely, you may see some great results.
Cannabis Is Gaining Support, But Invest Carefully
In many states, cannabis is legal now because of increased public support. More and more voters want legalization for their states. That said, it’s still important to be careful with your investment decisions. Just because the market has more opportunities doesn’t mean that you shouldn’t do your research first. Some parts of the market are more stable than others. For example, the medical cannabis market still has more traction than the recreational cannabis market. Cannabis-related products like growing materials and packaging have also gained some stability.
Overall, the cannabis market likely won’t slow down any time soon. Investors have a lot of exciting opportunities ahead of them. Still, it’s important to stay on top of the latest information. That’s why we’re always here to help.