The Green Rush (2012–present) is an ongoing global economic event that began on December 6, 2012, when cannabis was legalized in the US state of Washington; Colorado's legalization took effect four days later. While still illegal federally in the United States, the actions of these two state governments signaled the opening of a market projected to be worth US$48+ billion globally by 2027. As of 2019 the cannabis industry had created over 250,000 jobs. However, cannabis companies have been a mixed investment success, with many experiencing plunging stock prices, massive layoffs, and failure to meet investor expectations.