Marijuana Startups Strike Gold With Legal Weed, The Fastest Growing US Industry

Entrepreneurs in the legal weed industry are seeing green not just in their products, but in their profits. Startup companies selling everything from portable smoking devices like vaporizer pens to more efficient watering systems and state-of-the-art LED lighting panels for growers are proving that there’s money to be made in legal weed.

"Under full legalization, this could be a $36 billion industry," Troy Dayton, chief executive of ArcView Group, a San Francisco-based investment and research firm focused on the cannabis industry, told CNN Money. Most people opening legal marijuana businesses aren’t becoming growers -- that requires a special skillset. "It's like with the Gold Rush. It's a great time to be selling picks and shovels, instead,” Dayton said.

The pot market in 2014 grew to a $2.7 billion industry, a 74 percent jump from the year before, making it the fastest-growing industry in the U.S. Market experts believe the industry...

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