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New U.S. cannabis markets are opening. A guide to what investors need to know

With new markets continuing to open, investors might want to give cannabis stocks another look. Here's a guide to making smart bets.

Josephine Flood | CNBC

Although the U.S. is unlikely to pass a federal law legalizing marijuana in the near future, cannabis sales are rising steadily as states continue to remove restrictions on its use.

The majority of U.S. states allow some form of cannabis sales. This week, New Jersey took the final step to allow cannabis sales to adults, opening a new market on Thursday. Vermont will open its retail stores on May 1. With these additions, Bank of America projects about a third of the U.S. population lives in a state that allows cannabis sales to those over 21 years of age.

Investing in Cannabis

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