GrowLife Inc (PHOT)

[tektone]

Colorado estimates total marijuana sales in 2014 will come in at approximately $610 million, which would generate nearly $100 million in tax revenue to the state. That amount to $19.27 per person in Colorado.

The situation is very similar in other cash-strapped states like California, Illinios, and Michigan, where taxes generated from legalized marijuana could add $733 million, $248 million, and $180 million, respectively, based on Colorado's numbers.

I believe those numbers are wildly conservative and I am not alone in my thinking.

In fact, a 2010 study from the CATO Institute estimated that legalizing marijuana could generate $8.7 billion in federal and state taxes annually.

I think pot is going to dwarf even the most aggressive industry shifts over the last 100 years. It's truly just a matter of time.

We could invest in legalized marijuana by way of companies with growing operations, but that would be like investing in gold miners during the gold rush. Instead, I prefer investing in the picks and shovels - or the infrastructure needed to conduct a marijuana growing operation.