In this Wednesday, Oct. 11, 2017, file photograph, a marijuana plant is shown as it is grown at the Colorado Harvest Company in Denver.

Michigan becomes 10th state to legalize recreational pot; other measures pass in Missouri and Utah

By Craig Giammona and Courtney Dentch
Bloomberg

The legal U.S. cannabis market just got a little greener.

In midterm elections that saw Democrats gain control of the House and reaffirmed Republican control of the Senate, more states also voted to legalize marijuana. The outcome will help expand a U.S. pot market that could be worth $75 billion by 2030, according to an estimate from Cowen & Co. Pot stocks, led by Tilray Inc., surged on the news.

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