On Nov. 6, citizens in four states will vote on marijuana legalization.
“Booming rally in marijuana stocks could get another boost from midterm elections,” CNBC reports.
In Michigan and North Dakota, voters will decide whether to legalize adult recreational use.
Michigan already allows use of cannabis with a medical prescription. Polling in the state indicates that the measure will pass – with 56% in support, and 41% against.
Voter approval is less certain in North Dakota, where the state is still implementing use of medical marijuana.
Passage of legal cannabis in these states would expand the market to 25% of the U.S. population.
Plus, in Utah and Missouri, voters will cast votes on whether to legalize medical marijuana.
Early polling in Utah suggests that voters approve medical use. And in Missouri, three medical marijuana measures are on the ballot.
With a population of 10 million people, Michigan is the largest of these states. It also has the greatest number of medical marijuana patients of any U.S. state.
Missouri – with 6.1 million people – is also sizable. Like many other states, medical use of cannabis could pave the way for a recreational market in a couple years.
The rapidly expanding market is creating a Marijuana Buyout Boom.
Go here to profit – before the Nov. 6 election.
Watch These 6 Governor Races
Most observers focus on the referendums in these four states. However, the race for governor will also play a big role in six more states.
Democratic governor candidates in Connecticut, Florida, Illinois, Michigan, New Hampshire and New York favor legalization of recreational cannabis. Meanwhile, the Republican candidates oppose legalization.
The election of Democratic governors in these states could make legalization easier there.
According to investment analysts at Cowen & Co., those six states could generate over $10 billion in annual cannabis sales. These stocks stand to profit the most.
63% of Americans Support Legal Weed
Nov. 6 could be huge for legal weed.
A recent poll from Quinnipiac University found that 63% of Americans support legalization of cannabis for recreational use.
Meanwhile, 93% of Americans support medical use.
Americans also strongly believe that the federal government should uphold state laws related to cannabis.
70% of respondents oppose the enforcement of federal laws in states where cannabis has been legalized.
Legalization is sweeping across the country – and it’s creating a new Marijuana Buyout Boom.
With nearly two-thirds of Americans supporting legalization, this is an unstoppable movement.
Even conservative “red states” have been passing cannabis legislation.
In June, Oklahoma voters approved medical cannabis in a 53% to 43% vote. That bodes well for approval in conservative states including North Dakota, Utah and Missouri.
Midterm elections happen in just 36 days. And election day news could spark the next move for the entire sector.