The money behind marijuana

In 1931, the state of Texas declared marijuana a "narcotic," allowing a life sentence for possession of pot. In 2016, California, Nevada, Maine, and Massachusetts all legalized recreational marijuana through a ballot initiative.

In 1969, a Gallup poll found only 12 percent of the American public was in favor of legalizing cannabis. Gallup conducted the same poll in 2016 and this time 60 percent of Americans supported legalization.

As it stands today, 29 states and the District of Columbia have laws that legalize marijuana in some form. Seven of those states and Washington D.C. have also passed measures that make recreational weed legal.

As a result of cannabis becoming less taboo and local laws becoming more friendly, the marijuana industry has experienced nothing short of a boom. According to an Investopedia report, marijuana sales in North America grew by 30 percent to $6.7 billion in 2016. By 2021, that number...

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