The Legal Cannabis Market Making Noise

NEW YORK: 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.

Supporters for recreational marijuana hope the November election will bring their first major electoral victory. Supporters believe “yes” votes in the Northeast region of the United States would add geographic variety to the legalization map, inspiring other East Coast states to move in similar directions and perhaps build toward ending federal exclusions on marijuana.