On the federal level, nothing about marijuana policy has changed. It's still illegal for medical and recreational use.
On the state level, however, medical and not-so-medical marijuana are becoming voter-supported growth industries. Eighteen states and the District of Columbia have legalized the use of medical marijuana and turned it into a $17 billion industry. In November, Colorado and Washington voters helped legalize recreational pot use in their states.Supporters of the ballot measures in those states say legalized marijuana will bring in tens of millions of dollars in revenue for state and local governments, with Colorado scheduled to open its first marijuana stores in January 2014. Publicly traded marijuana companies such as Medical Marijuana Inc. (MJNA), GrowLife Inc. (PHOT) and Hemp Inc. (HEMP) have already seen share prices surge. Just one problem: The federal government still has a whole lot to say about regulation and taxation of weed and doesn't make it easy on dispensaries, shops and growers. Those folks have a tough time opening bank accounts for their businesses and would have an even tougher time keeping the feds off their back by taking out nationally televised ads. Especially during the Super Bowl, the biggest event for a sport with a weed history so cloudy that ESPN Magazine dedicated some serious real estate to discussing the topic in its NFL Draft issue last year. Besides, even if weed was legal, it wouldn't be guaranteed air time. Just ask the Marlboro Man or Joe Camel what their Super Bowl Sunday plans are this year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV