The wave of global marijuana legalization in 2018 could have something to do with last year's highly volatile stock market, says Chuck Thompson, a socionomics analyst.
When people derive a negative mood from market sell-offs, they begin to view recreational drugs as less dangerous, even innocuous, and vice versa, Thompson said.
Many moments in history show a correlation between the fate of the US's cannabis industry and the performance of Wall Street.
If the stock market sees a huge downturn in the next year or two, a proponent view on marijuana will reign supreme, he said.
The world's biggest stock bear has warned that the US stock market could
plummet more than 50% from current levels, wiping out trillions of dollars of value. And while a bear market of that magnitude would be devastating for many, it could be favorable for marijuana supporters, according to a socionomics analyst.
Bear markets usually create a widespread negative social mood in the country, which makes people more tolerant of marijuana, according to Chuck Thompson, a researcher with the Socionomics Institute, which studies how social mood influences social attitudes and actions.
"During bear markets, people have a lot of problems going on," Thompson told Business Insider. "Their attitude is 'Hey, I'm not gonna worry about going after these marijuana users. I got enough problems of my own.'"
