The Cannabis Sector May Soon Make A Comeback - Some Cannabis ETFs To Consider

Summary

• The US is about to consider a bill to decriminalize cannabis use in the country. It needs to pass through both the House and the Senate, but has strong support.
• The global legal marijuana market size is expected to reach USD 66.3 billion by the end of 2025 at a CAGR of 23.9%.
• Some cannabis ETFs to consider.
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Following the legalization of cannabis in Uruguay and Canada, the US is now about to consider a bill to decriminalize cannabis, possibly in 2020. If passed, this would likely set of a wave of similar laws to decriminalize cannabis globally and be a boom for the legal cannabis industry.

Cannabis is already legal for recreational use in 11 US states, and for medical use in 33 states. Even the capital city of Canberra in Australia has recently legalized cannabis for personal use (can legally possess up to 50 grams).

Canberra legalizes cannabis for personal use starting January 31, 2020

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The US House Committee approves a landmark bill legalizing marijuana at the federal level

In mid-November 2019, the US House Committee approved the new cannabis bill. The bill will still need to pass a vote in the full House before moving to the Senate for further approval. Included in the legislation will be a 5% tax on cannabis products.

A recent report on Trump's view stated: "President Trump appears to be all in on the bill. Before jetting off to the G-7 summit in Canada, he told reporters," I support Senator Gardner. I know exactly what he's doing. We're looking at it. But I probably will end up supporting that, yes."

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Other countries that may legalize cannabis next

Apart from the US, the following countries are all likely to legalize cannabis, especially if the US does. Those countries are: Jamaica, Czech Republic, Colombia, Peru, The Netherlands, Portugal, Spain, Iceland, and France. Mexico will also likely follow soon where personal use of recreational cannabis in amounts 5 grams or less is decriminalized (not a jailable offence). In fact, most of South America considers smoking cannabis no big deal. Even Russia allows cannabis in amounts up to 6 grams.

Forecasts for

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information in this article is general in nature and should not be relied upon as personal financial advice.