Few industries operate in a stranger legal and political environment than marijuana. While 33 states and Washington, D.C. have legalized pot for recreational and/or medical use, the federal government still considers it an illicit, controlled substance. In short, pot is simultaneously legal and illegal in these states, depending on the governmental perspective.
The situation has partially handcuffed a nascent industry that otherwise is thriving and shows even greater potential. Legal cannabis sales in the U.S. are expected to top $13 billion this year – $3 billion more than 2018. Look for sales to spike to almost $26 billion in 2025.
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