In nine states on Tuesday, marijuana legalization measures will appear on the ballot. With this new legalization, investment opportunities are inviting money from Silicon Valley, Wall Street, and publicly traded companies.However, a lot of this new money is avoiding directly investing in marijuana agriculture and sales, which is still illegal under federal law. They are investing in auxiliary products such as grow lights, payroll services, and software.New investors are flocking to get a piece of this market that some people estimate will reach $50 billion throughout the next decade.

Sports empire scion, Lindy Snider and Silicon Valley angel investor, Fulton Connor are jumping on the bandwagon and investing in software that links growers and retailers. Even Scotts Miracle-Gro, a gardening product manufacturer, knows this industry is about to get big. The company has spent millions of dollars acquiring other companies that sell lighting, soil, fertilizer, and other various products to marijuana growers. Scotts’ chairman and CEO Jim Hagedorn told Forbes that marijuana was “the biggest thing I’ve ever seen in lawn and garden.”

Microsoft Corp is getting its feet wet in the industry by partnering with Kind Financial to develop software to allow government regulators to follow marijuana from farm to market. Investors believe if California legalizes recreational marijuana use, “…it would triple the size of the legal market,” said financial services firm Cowen and Company analyst Vivien Azer.

Many Wall Street firms have also started to get involved and guide their clients on how to do well in this market. Merrill Lynch and Cowen have released reports on opportunities to help provide advice to their clients. However, to fully realize the potential of marijuana, federal law needs to be aligned with state legalization laws. People are going crazy to get in to the market before it blows up and they plan on making a lot of profit of their endeavors

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