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As we put 2020 in the review mirror, 2021 brings a renewed sense of hope and new opportunities. Although the markets and portfolios likely did well in 2020, few people aren’t looking forward to a less dramatic year. Fortunately, the future looks bright for cannabis.
We asked Matt Carr, Chief Trends Strategist at the Oxford Club, one of the longest-running financial letters in the country, to discuss the environment of cannabis investing over the next year.
Cannabis Clear Winner on Election Day
Regardless of the chaos revolving around the presidential election, the election results have already significantly impacted the cannabis industry. Carr reminds us that while Biden and Harris favor legalization, particularly in medical applications, progress at a federal level will likely see a slow start.
Additionally, voters approved the legalization of cannabis in an additional five states in November, making 2020 a milestone year. To date, 15 states now support adult-use, recreational cannabis, and 36 have legalized medical marijuana.
“I remain firm on my conviction that the global cannabis market will be worth 200 billion by 2030, and of that, the United States will represent about 80 billion dollars. So, these five states, they’re going to bring in about 9 billion dollars cumulatively, of new revenue by 2025, so that’s well on our way to those goals,” Carr predicts.
Carr shares his insight into the opportunities to invest in the growing industry and offers a few cautionary notes, including making changes too fast at the federal level and state-run cannabis market proposals.
Watch the podcast now to hear Carr’s expert insight on
- the pros and cons of investing in cannabis
- possible roadblocks or challenges for businesses
- ancillary vs. plant-touching investments
- what companies to watch and who’s doing well
Find us wherever you get your podcasts!