Marijuana expands into three more states

Ajustar Comentario Impresión

The good news for anyone wanting to get high without breaking the law is that the medical marijuana regulatory system gives the state a head start. Utah voters also were considering whether to allow medical marijuana and to join the 31 other states that have already done so.

Utah voters also chose to legalize medical use of marijuana for people with qualifying illnesses, with about 56 per cent in favour and almost half of the state's polls reporting. Two of the states were voting on the recreational ledgers: North Dakota and the state of MI to varying results, the Midwestern State proving more conducive to progressive change.

The marijuana industry saw momentum in Tuesday's midterm elections.

In Canada, Aurora Cannabis Inc. (NYSE: CGC) rose 3.8%, Cronos Group Inc. (TLRY) grew 8.2%, and New Age Beverages Corp.

Following the results, cannabis producers were rising across the board. Counting Oklahoma, where voters approved medical marijuana in June, three red states have taken that step this year.

Medical marijuana has been legal in MI since voters approved its use in a 2008 ballot initiative. A 10 percent tax on retail sales will be distributed between "local governments, K-12 education, and infrastructure projects".

There are now 10 states, along with Washington, D.C., that have legalized recreational marijuana. Each legalized growing, manufacturing, selling and consuming marijuana and marijuana products for medicinal use.

As I wrote yesterday, four states had cannabis-related measures on the ballot-two with medical programs (Missouri and Utah), and two with adult-use recreational (Michigan and North Dakota). Amendment 3 would allow doctors to prescribe weed, but would impose a 15-percent tax and ban home cultivation; and Proposition 3 would tax marijuana at 2 percent and set a list of qualifying conditions.

Proposition No. 2 in Utah passed with about 53 percent of voters for the measure and about 47 percent against it.

North Dakotans decisively rejected a proposal to make marijuana legal for recreational purposes.

It's unclear if marijuana bills could get through the Republican-held Senate.

While cannabis laws continue to change state by state, primarily through ballot measures, experts note that increasing support across the country could push federal legalization to happen more quickly.