There are five states that will be voting in November on cannabis legalization.
Here is a quick breakdown:
1. Arizona [Prop 207] — Voting on whether to legalize adult use/recreational cannabis. It’s estimated that recreational sales could pull in $700 million to Arizona by 2024 if legalized.
2. Mississippi [Initiative 65 or 65A] — Voting on whether to legalize medical cannabis. Initiative 65 allows a physician to recommend cannabis to patients with qualifying medical conditions, whereas 65A requires pharmaceutical quality and limits smoking to terminally ill patients only. Estimated medical sales could reach $800 million by 2024.
3. Montana [Ballot issue I-190 and Initiative CI-118] — Voting on two separate items. I-190 is whether to legalize recreational use with a 20% tax. CI-118 would establish the legal age to purchase and use cannabis as 21. Sales are estimated to be around $200 million by 2025.
4. New Jersey [Public Question №1] — Voting on whether to legalize recreational cannabis. Sales are expected to reach $850 million+ by 2024.
5. South Dakota [Measure 26 & Amendment A] — Voting on both medical (measure 26) and recreational (amendment A) cannabis legalization. If legalized, South Dakota estimates around $30 million in tax revenue.