NEW YORK (MainStreet) -- Election Day 2014 made big winners out of recreational users of marijuana in Alaska and Oregon. The two states join the ranks of Colorado and Washington that are profiting from the sale of marijuana's recreational use.
"Oregon and Alaska will move to create the administrative system for marijuana sales, which are expected to begin in both states by 2016," said Michael Swartz, an analyst with Viridian Capital & Research.
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In Alaska, voters narrowly approved Ballot Measure 2 to legalize marijuana for recreational use, 52% to 48%.
"This latest wave of state legalization will propel the cannabis sector by increasing the flow of capital into legal marijuana companies and setting up a 2016 legalization push in California," Swartz told MainStreet.