The staff of Fortune recently assembled its predictions for 2016. Here’s one of our forecasts.
Four states, plus Washington, D.C., have recently legalized recreational pot, and Colorado and Washington are already raking in millions of dollars in tax revenue from their legal markets. Several more states could join the party next year, when the presidential election will increase turnout among younger, pot-friendly voters. Initiatives to land marijuana legalization on 2016 ballots are well underway in Arizona, California, Maine, Massachusetts, Michigan, and Nevada, while a handful of other states could also put legalization to a vote. For various reasons, Ohio’s recent “no” vote isn’t a reliable bellwether of national opinion. With public support blossoming— the latest Gallup poll shows 58% of Americans back legalization— it’s not difficult to envision another six states opening their arms and their treasuries.
This article is part of the 2016 Fortune Crystal Ball, a package of 33 predictions about business, politics and the economy by the writers and editors of Fortune. To see the entire package, click here.
