It’s one thing to say you are for cannabis legalization and to tell a pollster as much on the phone or online. But many in the cannabis community support legalization while still hedging their bets; after all, legalization may take a while where they are and it may suck when it gets there. The prudent cannabis consumer still has their dealer on speed dial.
But there are some that are going all-in on legalization. They are betting that their skills will match up well with the rising tide of marijuana law reform and they are willing to put up their hard-earned cash to prove themselves right.
Thousands of entrepreneurs across the U.S and around the world are sinking their life into the legal cannabis industry. And even more are willing to put their money where the weed is, according to a new poll by YouGov. Forty six percent of respondents said that if they were looking to invest money, they would be very/somewhat likely to consider investing in legal marijuana.
When the numbers are broken down, that 46% rises to 50% when considering those respondents who make $100,000 or more a year. Not surprisingly, 81% of respondents who have used recreational marijuana in the past would be willing to invest their money.
Men are more likely than women (49% versus 42%) to invest, while younger people are more willing than older people. Again, nothing surprising with the demographic splits. But, what is surprising is that almost half of all people see the cannabis industry as a viable investment opportunity.
I talk a lot of the “normalization” and “mainstreaming” of cannabis. Nothing says mainstream more than investment. It’s the ultimate vote of confidence to take the money you have earned and put it into an industry with no guarantee you’ll get any of it back.
To be fair, there is a lot of hype surrounding legal marijuana due to the sudden rise of this new industry, but the hype itself is indicative of how far the cannabis industry has come. It’s one of the fastest growing industries in the world.
But as with any other investment, be wary. Just because a lot of people will make money in an industry doesn’t mean you’ll be one of those people. There are and will be plenty more stories about those who lost everything in the cannabis industry. Do your due diligence and do everything you can to make sure you’re not one of those people.
Disclaimer: This article is intended for general information and entertainment purposes only and is not intended to offer investment advice or reflect the specific views of the publication.