This Week in Cannabis Investing: Weed Legalization Gains Ground in Midterms

Maryland and Missouri became the two most recent U.S. states to legalize recreational marijuana use.

weed legalization gains ground in midterms, american flag with marijuana leaf
(Image credit: Getty Images)

Weed legalization scored some solid wins in the 2022 midterm elections. Maryland and Missouri legalized cannabis for adult-use, and internal estimates at Poseidon note that those two markets could generate $2.6 billion in legal cannabis sales. 

According to cannabis research firm Headset, the additions of Maryland and Missouri to the market would add about 10% growth over the $26 billion that U.S. adult-use marijuana sales are predicted to earn in 2022. There were also decriminalization initiatives passed in Ohio, Texas and Wyoming. 

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Morgan Paxhia
Contributing Writer

Morgan Paxhia is Managing Director and Co-Founder of Poseidon Investment Management. With over 10 years experience in investing and finance, Morgan has developed a deep understanding of individual company analysis, portfolio construction, and risk mitigation. This content is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing should be construed as a recommendation by Poseidon Investment Management, LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. This content should not be considered as an offer or solicitation to purchase or sell securities or other services. Any of the securities identified and described herein are for illustrative purposes only.  Their selection was based upon nonperformance-based objective criteria. The content presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Past performance is not indicative of future results.