The U.S. is the world’s largest and most attractive market for the producers and sellers of legal marijuana. While we continue to wait for the House-approved Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) to be signed off in the Senate, about 20 U.S. states have pushed ahead with (or are in the process of) legalizing or decriminalizing recreational cannabis.
At stake are billions of dollars of tax revenues.
The passage of the MORE Act is important since it would decriminalize recreational marijuana at the federal level. It would also allow banks to deal with cannabis companies, which is currently prohibited and places pressure on pot companies to find alternative financing and banking solutions.
So, while we wait for the legal marijuana sector to expand in the U.S. (and it will), an intriguing way for investors to play the sector is via Innovative Industrial Properties Inc (NYSE:IIPR). It’s a real estate company that purchases and rents out facilities to regulated medical cannabis companies.
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