The Current U.S. Marijuana Legal Situation Cannot Last Much Longer
One thing I’ve been examining for years while reporting on marijuana stocks is the growing absurdity of the legal situation in the U.S.
Every time the calendar turns, we see more and more states legalize pot in the country. Yet, at the federal level, marijuana remains labeled as a Schedule I narcotic and is nowhere close to becoming legal.
But with Connecticut’s recent pot legalization, I feel that we’re quickly approaching the point of no return.
Now, I’m not saying Connecticut (which became the 19th U.S. state to legalize recreational pot) is going to be the straw that breaks the proverbial camel’s back.
Legal recreational marijuana sales in Connecticut are still a year out, so the new legislation won’t have much of an impact on U.S. pot company’s sales in the near future. Moreover, Connecticut is a small state, so it won’t push the needle too much for pot sales overall. (Source: “This Week in CT: A Breakdown of the Recreational Marijuana Bill Signed Into State Law,” News 8, June 27, 2021.)
But what Connecticut does do for the cause of marijuana legalization in the U.S. is further highlight the absurdity of the current situation.
Now we have 19 states that have legalized recreational marijuana. Nineteen. We’re approaching the point where almost half of the country’s states will have legalized marijuana for recreational use.
The U.S., the last time I checked, is a democracy where the majority rules. Of course, that’s a very simplistic reading of the country’s form of democracy, but the simple fact is that we’re getting to the point where we’ll have 25 states where marijuana is legal.
We’re already at the point where the vast majority of U.S. citizens have access to legal recreational marijuana (between living in states where the drug is legal, or in a bordering state).
Moreover, a large majority of U.S. citizens support pot legalization.
This. Is. Crazy. Dear reader, there’s simply no other way to describe what’s happening. And frankly, I don’t think I’m alone in noticing this.
While politicians in both parties (particularly the Democratic Party) have warmed up to the idea of federal U.S. marijuana legalization, that warming hasn’t translated into action on the legislative side.
Even with a slim majority, the Democrats have been unable to push pot legalization through. To be fair, were the Democrats to actually push for marijuana legalization, there’s a very good chance the legislation would be obstructed by either reluctant centrists in the party, or by a filibuster, which requires 60 votes in the Senate to be overcome.
Regardless, the situation in the U.S. right now regarding pot legalization is untenable.
So, where does that leave marijuana stock bulls? Well, actually, in a very strong position.
I know this can’t go on forever. You know this can’t go on forever. U.S. politicians know this can’t go on forever. The only solution, then, is marijuana legalization being enacted at the federal level. That, in turn, would lead to massive gains from pot stocks of all types—both Canadian and U.S.
Eventually, and I say this with near-100% certainty, there’s going to be some pot legalization at the federal level in the U.S. That’s something we’ve long known. The question has always been a matter of “when,” not “if.”
When marijuana legalization does hit, we’re almost certainly going to see massive gains from marijuana stocks. As such, getting in before the legislation is pushed through could be a great way to profit from the coming potential exponential gains.
One important thing for investors to remember before going all-in on pot stocks in advance of pot legalization is that not all marijuana stocks are created equal. While we’re likely to see gains across the board from pot stocks, some are better situated than others to see big gains.
In my mind, the pot companies that have the ability to quickly expand into the U.S. market are the ones that are best situated to see large gains from the upcoming federal U.S. marijuana legalization.
And a large number of U.S. pot companies will enter the marijuana market and acquire each other in attempts to better position themselves in that market.
What all this means is that investors need to be on the lookout for the top marijuana stocks in anticipation of this once-in-a-lifetime opportunity that’s bound to hit in the near future.
Another day, another U.S. state legalizes pot. It may not actually be a daily occurrence, but the regularity with which we’re seeing pot legalization spread across the U.S. at the state level is impressive and encouraging for marijuana stock investors.
And, as just mentioned, the next step for pot stock investors is to identify which companies are best suited to profit from the inevitable federal U.S. marijuana legalization.
Keep your eyes on Profit Confidential to get the information you’ll need to make informed decisions on how to best profit from the U.S. marijuana stock market.