There are more U.S. states that allow some form of legalized marijuana than there are states that don’t. And the numbers are moving more in that direction. Oklahoma voted just a few days ago to legalize medical marijuana. Voters in Michigan will decide on allowing legal recreational pot in November.
An estimated $8.5 billion was spent on legal cannabis in the U.S. last year, according to “The State of Legal Marijuana Markets” report published by ArcView Market Research and BDS Analytics. But this amount could be only a fraction of what’s to come. U.S. marijuana sales are likely to skyrocket over the next several years, and there’s one big reason why.
To understand why increasingly more states are legalizing marijuana, it’s helpful to look at the history of lotteries in the U.S. Like