better to pickle a frozenset and use that.
import pickle
# initialize:
wordset = frozenset(line.lower().rstrip() for line in open('/usr/share/dict/words'))
pickle.dump(wordset, open('/tmp/wordset.pkl', 'wb', -1))
# when you want to use it:
wordset = pickle.load(open('/tmp/wordset.pkl', 'rb'))
'bear' in wordset # == True