It’s no secret that all eyes are on Canada. On June 19, after months of debate in the Senate and some quick back-and-forth between the Senate and House of Commons, Canada’s parliament passed the Cannabis Act, paving the way for it to become the first industrialized country in the world to legalize recreational pot. With Canada legalizing and bringing in what could be billions of extra dollars in revenue annually, the attention has now turned to which country could be next.

Around the globe, roughly 30 countries have legalized marijuana in some capacity, with much of Europe giving medical cannabis a green light. In fact, with European grow industries being nascent or completely nonexistent, most will be relying on Canadian exports to meet their demand needs. But just two countries — Uruguay and Canada — are waving the green flag on recreational cannabis.

Could the United States be that third country? While it seems exceptionally unlikely at the moment, the idea can’t be completely discounted due to the upcoming midterm elections in November. [Read More @ Motley Fool]