Should California decide to legalize recreational marijuana this election, it will cause a flood of venture capital to enter the market for cannabis startups, investors said Tuesday speaking at a conference for marijuana companies in Oakland.
A total of nine states will be voting to legalize marijuana in some capacity this November. That includes Arizona, Maine, Massachusetts and Nevada, which will be voting on legalizing recreational use, and Arkansas, Florida, Montana and North Dakota, which will be voting on medical marijuana.
The crown jewel, however, is California, which will also be voting to legalize the substance. Aside from offering the largest potential market for cannabis startups, California is home to a wealth of investors who could channel their capital into the market should it become less risky to invest in.
