In Miami, Nug Brand clothing is a sponsor for a 420 event. The company specializes in cannabis apparel and accessories. Cavigold Records is a sponsor of the HempFest in Seattle.

Houston has several 420 events and sponsors of the 420 one Love Event include locally made DASH Vodka and Angels Envy Whiskey and FatCat Creamery, Norml ( The national organization for the reform of marijuana laws) is the sponsor of many 420 events, along with local media. A review a various events around the country demonstrate strong involvement of local businesses, like legal defense. Of course many sponsors are local smoke shops and food companies.

One can only imagine the future sponsors of 420 events as marijuana comes closer to being legal. Munchies? Diamond Foods ( DMND)and J&J Snack Foods ( JJSF)seem like good choices. Thirsty? Anheuser Busch ( BUD), this bud's for you. Finally, a sponsorship event that would welcome big tobacco like Altria ( MO)or Reynolds ( RAI). How about Martha Stewart ( MSO)for your tie dye needs?

According to US Government's Substance Abuse and Mental Health Data Archive (SAMHDA), almost half of pot smokers are in the sought after 18-25 year old demographic. Since this generation no longer watches television or reads magazines, 420 festivals may be the best new way to reach this crowd.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

Here's What to Expect from the Marijuana and Cannabis Sector in 2016

Marijuana Stock Fans Fuming Mad at Feds for Trading Shutdown

Marijuana Stock Warning From the SEC

Morgan Stanley Says GWPH Pot Stock Is Legit

Marijuana Stocks Need to Grow Their Balance Sheets