What does expanding cannabis legalization mean for CRE investors?

By Patricia Kirk | Wealth Management

On Thurdsay, New York State lawmakers reached a deal with Governor Andrew Cuomo to fully legalize marijuana for adults aged 21 and older. The deal, which could be voted on as soon as next week, could lead to creating one of the largest legalized marijuana markets in the country, according to The New York Times.

It also follows a year in which America’s budding cannabis industry reached a new high, with cannabis fully legalized in four more states: Arizona, New Jersey, Montana, and South Dakota. In addition, Mississippi also legalized pot for medical use.

In total, cannabis is now fully legal for adult use in 15 states, and legalized in some form in all but six states. (In addition, the federal government continues to classify marijuana as a Schedule 1 drug.)

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