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Big wins for legal pot, but path uncertain

LOS ANGELES — The number of Americans living in states with recreational marijuana more than tripled after at least three states voted to fully legalize the drug. But the election of Republican Donald Trump and GOP majorities in the Senate and House tempered advocates’ excitement about an easing of federal restrictions.

“There is a massive sense of momentum, and this will put a lot of pressure on the federal government,” said Ethan Nadelmann, founder of the nonprofit Drug Policy Alliance, a pro-legalization group. What gives him “real concern” is Trump.

Nadelmann and other advocates say the president-elect is “unpredictable,” and they are unsure where he stands on marijuana issues, though Trump has said in the past that he supports state laws legalizing medical marijuana.

Still, analysts and advocates alike say, the industry may be too big and valuable for a Trump administration to stop, especially after California voters legalized the recreational use of pot.

Seven states have now legalized recreational pot, and a recent Gallup poll showed close to 60 percent of Americans support the idea.

Colorado, where stores began legally selling recreational pot in 2014, reported almost $1 billion in legal pot sales last year. Arcview Market Research, which tracks the marijuana industry, estimates that legal annual California pot revenues could exceed $7 billion by 2020.

Todd Mitchem, a Denver-based marijuana industry consultant and lobbyist, said the pot business should expect an infusion of new interest from investors and would-be marijuana growers and retailers.

“It’s going to be huge,” said Mitchem, who pointed out that Colorado’s pot industry is worth $1 billion a year but the state has only about a tenth of California’s population.

Other states, too, will also look with envy at the taxes generated by California and other states where pot is legal, analysts predicted.

Even the financial industry’s reluctance to do business with marijuana businesses may soon disappear.

“It is one thing to ignore the millions generated in Colorado. It is entirely a different thing to ignore the tens of billions that the California cannabis industry will generate,” said Michael Weiner, a Denver lawyer who represents pot-related companies.