The one thing every successful cannabis investor needs

The cannabis plant has always found new ways to be profitable. Along with being an early pharmaceutical, hemp — basically, the low-THC form of the plant — have been used to make everything from clothing to paper. Hemp seeds are now also growing in popularity as a very nutritious food that is a complete protein, high in fiber–and tasty.

Now, with cannabis acceptance and sales growing, the possibilities could be endless.

Or they could be once the legislation allows it.

In the US, 21 states, territories, and Washington, DC have decriminalized marijuana. And this year, there are 21 state level marijuana initiatives on the ballot–the most for any single year on record.

However, marijuana is still illegal at the federal level in the US. This, of course, poses some limitations for cannabis business and entrepreneurs who must navigate a patchwork of state laws and regulations. And although the stigma of cannabis is definitely lifting, the federal prohibition will prevent it from achieving the popularity it otherwise is capable of — or deserves.

But, as legalization gains momentum on both sides of the aisle, many are beginning to see the light at the end of the tunnel. Legislation has been introduced in Congress this year to both decriminalize cannabis and open the US banking system to cannabis companies. Given the trends in public opinions, as the midterm elections grow near, these bills may have a chance.

In other words, the one thing that every successful cannabis investor needs is patience. Both the stigma and legal prohibitions are lifting, albeit gradually. When they do, the sky will be the limit for quality cannabis companies and stocks.

Danilo Diazgranados is an independent investor in the global food and wine, financial services, real estate, and the hospitality sectors.

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Danilo Diazgranados: On wine and food

Danilo Diazgranados: On wine and food

Investor in and lover of fine wine and restaurants.