Will weed be legal nationwide? New politicians in office, a Republican Attorney General, and consistent legalization on a state-by-state level has led a lot of Americans to really consider their opinions on the legalization of marijuana. Public opinion is moving toward the legalization of marijuana. In fact, a Gallup Research Center study found that 66% of Americans support the legalization of marijuana.
The Facts About Legalization and The Justice Department
As it currently stands (March 2020), 33 states have legalized cannabis for medical purposes. Eleven states and Washington D.C. have legalized cannabis for recreational use. States do set individual rules for medical registration. The last couple of years have led to dozens of cannabis policy reform bills pending in Congress. Marijuana legalization is widely supported in the most marijuana-friendly Congress in history.
As it currently stands, all senators and representatives currently running for the Democratic party’s 2020 presidential nomination have signed onto far-reaching cannabis legislation. Promising that soon we will get a positive answer to the question “will weed be legal?”, there will be some extra initiatives that some of them will be the lead sponsor of the bills.
Generational Beliefs Within the United States
The Pew Research results, broken down by generation, found that every generation of current voters supports the legalization of marijuana (including Millennials, Gen Xers, Baby Boomers) except for one (the Greatest Generation). This news shows us while there are currently people in positions of power from earlier generations, there is potential for sentiment to change as more political positions are held by younger voters.
Political Beliefs Within the United States
In a Pew Research study, Republicans, Democrats, and independents were asked to identify their sentiment toward nationwide legalization as their answer has a direct influence on the question: will weed be legal? Statistics show that 78% of Democrats support legalization, 65% of Independents support it, and 55% of Republicans do as well.
The Business of Marijuana
Businesses also keep an eye on the situation and ask will weed be legal. Thus, it was found that legal cannabis sales within North America was at an all-time high of $9.7 billion and they’re estimated to hit $24.5 billion by 2021. Because of this large market, more investors are seeing the growth potential in the industry. The Motley Fool reports that “since the beginning of 2016, quite a few of the largest pot stocks by market cap have surged by more than 1000%, leaving the broader market in the dust.”
In order for an investment in the marijuana industry to reach its full potential, federal legalization would make all of the difference. Potential monetary gain is a major reason behind public opinion swinging in the favor of legalization.
The Rarity of These Results
It is important to note that results showing 61% of respondents not supporting a current federal law is highly irregular. In another question, it was found nearly 82 percent of Americans believe “without the interference of the federal government” states should be allowed to work on their own cannabis laws. Vox reports, “83 percent of Americans choosing anything but current policy is exceedingly rare in any kind of polling.” This shows the sentiment toward federal law does not line up with what federal lawmakers wish to impose. With this disconnect, it is no surprise that marijuana legalization is at the forefront of many minds.
Will Weed be Legal? The Tide is Turning
If anything, the tide is turning toward federal marijuana legalization. Recent poll results indicate that the American public supports the federal legalization of marijuana. The majority of every generation supports legalization, except the Greatest Generation. Weed will become legal nationwide, it just may take some time for us to see the big picture results. And if you are an entrepreneur now is the time to invest in cannabis. Here are our 5 top 420 business ideas to start in the cannabis industry this year.