Next time Harold and Kumar get hungry, they should go to Jack in the Box.

The burger-slinging fast-food joint is poised to benefit the most if ballot initiatives to legalize recreational cannabis use pass in November, according to a report by analysts at Cowen and Co.

There could potentially be five additional states with legal marijuana laws after the November election: Arizona, California, Massachusetts, Maine and Nevada. California, which some cannabis advocates say is the most important state to win, is home base for Jack in the Box Inc. JACK, +1.13% . The chain operates the majority of its restaurants on the West Coast and in states either deciding whether to legalize marijuana or those that already have, such as Oregon and Washington.

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California has an 80% probability of legalizing recreational marijuana, according to Cowen’s report.

“We believe quick-service restaurants are poised to benefit from increased spending on recreational marijuana as one side effect of THC consumption is increased hunger,” Cowen analyst Andrew Charles wrote.

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Jack in the Box was not immediately available for comment.

Charles was one of 10 analysts across multiple industries, including health care and biotechnology, who did research for the 110-page Cowen report on the potential of the cannabis industry. The report estimates the current legal market for marijuana is worth about $6 billion in annual sales. The black market adds about another $25 billion to that.

Assuming cannabis use gains favor and those black market sales transition into the legal market with further legalization, analysts at Cowen forecast the U.S. cannabis market could be worth $50 billion a year by 2026.