November Elections: States Voting on Cannabis Legalization

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There are five states that will be voting in November on cannabis legalization.

Image for postHere 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.

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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