Entertainment: Which State Will Legalize Marijuana ?

A green wave is rolling over the United States. The November 8 election saw four states (California, Massachusetts, Nevada and Maine) legalize the recreational use of marijuana, while three more (Florida, North Dakota and Kansas) approved their first medical marijuana initiatives. Which state will be next? Vermont is the –200 favorite at press time, followed by Rhode Island (+350) and Michigan (+550).

Vermont came very close to legalizing marijuana last spring, but S. 241 was voted down 121-28 in the House. The political climate is different now that Maine and Massachusetts are on board; the topic is expected to come up again during the next legislative session, which starts January 4. Rhode Island, which consumes more weed per capita than any other state, is also likely to turn green rather than lose potential tax revenue from cross-border shoppers.

Michigan voters aren't expected to get another crack at legalizing marijuana until 2018, so Delaware (+700) could be a value pick in this situation. Medical marijuana has been legal there for five years, and the number of registered patients has tripled over the past year. Missouri (+2200) could also sneak in as the winner by passing a medical marijuana initiative in 2017.

Entertainment Odds: Who's Next on the Marijuana Train?

After seven more states voted to legalize marijuana on November 8 (four for recreational purposes, three more for medical use), who will be next? Vermont is the favorite at –200; Rhode Island is a distant second at +350.

Both states have come close to legalizing weed in recent years, and they will have even more incentive now that both Massachusetts and Maine have approved it for recreational use. Other states in the region who could turn green include Delaware (+700) and Maryland (+800), with Delaware considered more likely to get the job done in 2017.