Marijuana Industry Angered by White House Reversal

The cannabis industry was rattled after White House Press Secretary Sean Spicer said he expects the Department of Justice to increase enforcement of federal laws prohibiting recreational pot, even in states where it’s already legal.

Along with the District of Columbia, eight states have legalized recreational use among adults, including California, Maine, Massachusetts, and Nevada just this past November. That means one in five American adults can smoke, vape, drink, or eat cannabis as they please under state law. Meanwhile, more than half of the nation’s states have legalized medical marijuana despite federal laws prohibiting its sale. The industry is estimated to be worth north of $6 billion and will hit $50 billion by 2026, according to Cowen & Co.