Out-of-state investors have the green light from regulators in Oregon and Washington state to invest in the legal marijuana industry in the Pacific Northwest, making possible the emergence of Big Marijuana from mom-and-pop operations, says the Los Angeles Times. Colorado is expected to follow suit in removing residency requirements for investors. “Though the change comes with risks of Big Marijuana or criminal cartels entering the markets, the states are moving quickly to attract more investors in expectation that California, with a potentially vast recreational pot market, might enter the competition if voters legalize recreational marijuana sales this fall,” says the newspaper.
ArcView Market Research predicts Washington state will be the largest marijuana market by 2020 with $2.3 billion in revenue, followed by Colorado with $2 billion, says the Los Angeles Times. “Almost a dozen states are considering changes to weed laws, the report notes, with California and Nevada expected to approve adult use and eventually become major markets, turning the West into America’s legal cannabis kingdom.”