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Cannabis Industry Wins Big on Election Night

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While everyone was focusing on the presidential election, in some states, the cannabis industry scored major victories as multiple states had been voting to legalize cannabis in their states.

Four States, New Jersey, Arizona, Montana and South Dakota had a yes or no question on whether to legalize cannabis. In addition, South Dakota and Mississippi were voting to legalize marijuana for medical purposes. From all indications, all 6 measures passed with substantial support. “In the four states that legalized marijuana on Election Day, the policy will generally work like it has in other states that have legalized marijuana so far. Adults 21 and older will be able to possess and, eventually, legally buy the drug. State agencies will regulate production and sales, and local jurisdictions may be able to ban marijuana retailers within their borders. There will be taxes on marijuana. Depending on the state, home-growing marijuana might be allowed.”[1] While voters have agreed to allow for legalization, its up to the legislatures to work on ways to allow this safely.

Each state handles this business differently, so check what each state has before committing to anything related to this.

 

[1] https://www.vox.com/2020-presidential-election/2020/11/4/21548800/election-results-marijuana-legalization-drug-decriminalization-new-jersey-arizona-oregon-montana