High returns: can you make money investing in cannabis?

Cannabis is now legal in Colorado and Washington, as well as Uruguay. Is there (legal) money to be made?

cannabis

MOST new years bring a titivating novel investment opportunity. “Wearable computing” is one such in 2014; ditto “the internet of things”. But in hype terms it’s the newly-legalised marijuana market that is making the running among adventurous investors this January.

A quarter century after Bob Marley issued his clarion call to “Legalise Marijuana” (on such noble grounds as “dem say it cure glaucoma, yeah”), the hippy dream is becoming a reality. In December, Uruguay became the first country to legalise and regulate the production and distribution of recreational cannabis. And despite major political and social opposition in the US, two states – Colorado and Washington – have plans to do likewise. Alaska may not be far off. One wonders what Sarah Palin makes of it all.

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writes profiles for Money Week and is City editor of The Week.