States are Voting on Cannabis Legalization this November 2020

States are Voting on Cannabis Legalization this November 2020

Demi
OCTOBER 1ST, 2020

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On November 3rd, Voters across the United States will be voting to increase access to Cannabis for both Medical and Adult-Use!

As it stands now, 33 states have legalized medical cannabis, and of those, 11 states have legalized cannabis for adult recreational use.

In 2016, the US election resulted in a green wave as cannabis legalization measures passed in eight out of nine states. This year, voters in five states will decide whether to adopt either new medical or recreational cannabis laws — or, perhaps, both in the case of one state.

These states are voting on cannabis legalization this November and the key points to take away.

Arizona – Vote YES on Prop 207

  • Four years ago, residents in the Grand Canyon State narrowly defeated an initiative to legalize recreational cannabis. It failed by fewer than 67,100 votes, with 51.3% of voters saying no.
  • For the most part, Proposition 207 is structured similarly to 2016’s measure. It would allow adults 21 years and older to possess, consume or transfer up to 1 ounce of cannabis and create a regulatory system for the products’ cultivation and sale. Some key differences with the new measure include the addition of social equity provisions and criminal justice reforms such as record expungement. 
  • According to estimates from industry publication Marijuana Business Daily, recreational sales in Arizona could total $700 million to $760 million by 2024.

Mississippi – Vote YES on initiative 65

  • In Mississippi, there are two competing measures to legalize cannabis for medical purposes.
  • Initiative 65, which resulted from a citizen petition, would allow physicians to recommend medical cannabis for patients with any of the qualifying conditions. The constitutional amendment would establish a regulatory program for businesses to grow and sell medical cannabis and for the products to be taxed at a 7% rate.
  • Officials from Marijuana Business Daily said that if Initiative 65 is passed, medical sales could total between $750 million to $800 million by 2024.

Montana – Vote YES on CI-118 and I-190

  • Montana voters also will see two cannabis initiatives on their ballots.
  • Ballot issue I-190 would allow adults in the state to possess, buy and use cannabis for recreational use.
  • A separate initiative, CI-118, would establish 21 as the legal age to purchase, possess and consume cannabis.
  • If passed, I-190 would establish a 20% tax on recreational cannabis.
  • The state expects recreational cannabis sales to total nearly $193 million in 2025, generating $38.5 million in tax revenue.

New Jersey –Vote YES on Question 1

  • When Governor Phil Murphy was elected in 2017, he promised to legalize cannabis.
  • If approved, Public Question No. 1 would legalize cannabis for adults 21 and older.
  • The program will be regulated by the same commission that oversees New Jersey’s medical cannabis businesses, and the recreational cannabis products would be subject to the state sales tax (currently 6.625%).
  • Marijuana Business Daily pegs annual sales between $850 million and $950 million by 2024.

South Dakota – Vote YES on Measure 26 or Amendment A

  • Usually, states have legal medical cannabis programs in place before adopting recreational cannabis laws, however, South Dakota could enact medical and recreational programs together.
  • Voters in South Dakota will decide on Measure 26, which would establish a medical cannabis program and registration system for people with qualifying conditions, as well as on Amendment A, which would legalize cannabis for all adults.
  • “Amendment A could result in $29.3 million in tax revenue by the state’s 2024 fiscal year.” – South Dakota Legislative Research Council

Here’s the conclusion. While COVID-19 stopped 5 States from collecting signatures for their respective ballot initiatives, we still have the chance to make 2021 one of the biggest successes for the cannabis industry!

 Do your part & get out and vote for Cannabis Legalization!

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