Florida

Minnesota, Florida, Pennsylvania, Ohio May Legalize Marijuana

Cannabis reform demonstrators gather outside the White House in Washington, D.C., on Oct. 24, 2022, to call on President Joe Biden to take action on a cannabis pardon before the November general election.

Wynn McNamee | Getty Images

Marijuana is a multi-billion dollar industry, and a legal market is springing up like a weed as more states seek the tax revenues and jobs that cash crops bring.

Medical and recreational marijuana sales are projected to reach $33.6 billion by the end of the year, according to the MJBiz Factbook. analysis.

In Michigan alone, combined medical and recreational sales generated about $325 million in tax revenue last year. State Cannabis Regulatory Agency.

In Delaware last month, the state passed two bills aimed at allowing ownership by adults over the age of 21 and establishing a regulatory framework to shape the adult market in the coming months. , legal weed became a reality. The state becomes her 22nd state to legalize recreational marijuana, following Missouri and Maryland, which did so earlier this year.

The industry win caps a “multi-year effort” with “many hurdles along the way,” said Olivia Naugl, a senior U.S. policy analyst. Marijuana Policy Project.

“Years of effective advocacy and teamwork, including lobbying, rallies, organizing town halls, testifying before major commissions, outreaching the media, and implementing voter guides, have helped us to reach this moment. It helped us get to,” said Naugl.

Similar legalization efforts are underway and are gaining momentum in several other states as the marijuana industry grows. We are making progress and are now able to get hold of the recreational market.

These are the states that may legalize adult marijuana in the next few years.

Minnesota

Leif Hamre of Minneapolis attends a rally advocating for the legalization of cannabis held by members of the Minnesota NORML at the State Capitol in St. Paul, Minnesota on April 23, 2014.

Jerry Holt | Star Tribune | Getty Images

florida

Jared Sadler harvests marijuana plants at the Cresco Labs grow facility in Indiantown, Florida.

John McCall | Getty Images

Florida has nearly 50,000 signatures to put proposed constitutional amendment to ballot in 2024 This allows recreational use of marijuana.

Florida legalization advocates collected 841,130 valid signatures statewide, out of the 891,589 required for the amendment, according to the Florida Elections Service website. The state updates the petition count at the end of each month.

If a bill with a limited focus on permitting recreational use within the state is put to the ballot, it is more likely to pass.University of North Florida Poll Research Institute poll We found that 70% of respondents “strongly” or “somewhat” supported the proposed amendments.

This measure does not establish a framework for what a legitimate market could look like.

Florida legalized the sale of medical marijuana in 2016, making it a billion-dollar business. From January 2022 to July 2022, he had statutory sales of $1.04 billion, according to the company. data From the research company Headset.

“Florida currently has one of the strongest medical cannabis programs in the United States, and we believe the market will become even stronger once that market is expanded to allow adult use for personal consumption. increase”

The company, which operates more than 180 clinics across the state, donated $30 million to Smart & Safe Florida, the committee sponsoring the amendment.

“Trulieve estimates that Florida could potentially be a $6 billion cannabis market when it matures,” Niehaus said.

Ohio

Ohio may vote on whether to legalize recreational marijuana in November.

The Coalition to Regulate Marijuana Like Alcohol has proposed to try to establish a system in which marijuana would be regulated and taxed like alcohol. After the legislature elects not to adopt the proposal, the group must secure 124,000 signatures from registered voters by July 5 to put the proposal to the ballot.

“We are confident that Ohio will legalize marijuana for all adults in 2023,” said Thomas Haren, spokesperson for the group. “This is an issue that crosses political lines. Nonpartisan, popular among Republicans.”

About half of Ohio voters support legalizing adult use. poll Conducted by Emerson University. The voters most likely to support legalization were Democrats at 66.2%, Independents at 50%, and Republicans at 36.3%, the survey found.

Harren said the proposal builds on Ohio’s medical marijuana program and also plans to issue additional adult-use licenses to new companies.

He estimates that Ohio will generate $350 million to $400 million in new revenue under the proposed framework. tax revenue.Researcher at Ohio State University estimate Once the adult marijuana market becomes operational, tax revenue in the fifth year will range from $276 million to $374 million.

pennsylvania

Brad Horrigan | Tribune News Service | Getty Images

Pennsylvania is surrounded by states with fully established recreational markets such as New York, New Jersey, Maryland and Delaware.

If the nation’s fifth most populous state legalized weed, the benefits could stay within its borders.

Here are three separate proposals from legislators who want marijuana to be used, not just regulated. The state’s Democratic-held House of Representatives January and February, Meanwhile, the Republican-held Senate one in decemberEach of them, to varying degrees, seeks to tax crops for the well-being of local communities and includes initiatives aimed at social justice.

But marijuana attorney Brian Vicente said Pennsylvania is lagging behind in its attempts to legalize marijuana.

“Pennsylvania is a difficult hill to climb,” said Vicente, who monitors what’s going on in the Commonwealth. “We didn’t have the same momentum in Congress there, but the governor We stand by it, so it’s possible this year will pass.

Only 1 in 4 adults in Pennsylvania oppose legalization, and 56% support changing existing laws. polling Graduated from Muhlenberg University. The state has had medical marijuana since 2018.

https://www.cnbc.com/2023/05/07/legal-weed-minnesota-florida-pennsylvania-ohio-may-legalize-marijuana.html Minnesota, Florida, Pennsylvania, Ohio May Legalize Marijuana

Show More

Related Articles

Back to top button