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The psychoactive herb remains illegal on the federal level, because 27 states exercise the tenth amendment to allow medicinal use.  And after this past election, recreational use or soon will be permitted in seven of those states, as well as Washington D.C. This is because where our federal laws are occasionally made.

If you grow pot, your market is at least one in every five Americans. Then tack on all the tourists that visit California, which included 17 million international visits in 2015. Don’t forget to add the all the hedonists who stay in Las Vegas. There were 42 million of them in 2015. So the outlook is incredibly, uh, high (I wish I could tell you that’s the last pun, I really do).

Projected sales for legal marijuana could reach nearly $23 billion by 2020, according to ArcView Market Research.

That’s an enticing figure for investors like Serge Chistov, who financially backs the full-scale manufacturing operation at Honest Marijuana Co. in Oak Creek, Colo., an unspoiled Rocky Mountain hamlet off the beaten path and exactly the type of place one would expect a craft cannabis operation.