With legalization in full-swing in six states and new legislation in the works, investing in cannabis has officially gone mainstream. And today, some of the most established industries in the world are turning their attention toward cannabis as investors, product developers, and more.
These three major industries are investing in cannabis and could exert long-term influence on the market.
The Alcohol Industry Is Investing in Cannabis
According to a study looking at data from 90 alcohol stores between 2006 and 2015, medical marijuana legalization negatively affects alcohol sales.
The study found that alcohol sales drop close to 15% in states with legal medical marijuana.
Beer Companies and Distributors Turn Towards Weed
Prominent alcohol corporations were some of the first to start investing in cannabis. So far, several major brands have invested in legal weed: