Analysts from financial services firm, Cowen and Co. delivered a report projecting a $50 billion legal cannabis market in the United States by 2026. But such progression would be based on federal legalization.
The Presidential Election is a key catalyst toward that end, analysts wrote. Many companies who have invested in the cannabis industry are now in a better position to benefit from the November state referendums.
Voters in five states — Arizona, California, Maine, Massachusetts and Nevada — will decide whether to legalize recreational marijuana for adults. Medical marijuana is on the ballot in Arkansas, Florida, Montana, and North Dakota.