5 states trying to legalize recreational cannabis Nov. 8
This November, five states — Arkansas, Maryland, Missouri, North Dakota and South Dakota — will vote on whether to allow recreational cannabis.
This comes in addition to the 19 states currently allowing both recreational and medical cannabis use, of which Colorado was one of the first.
The next election cycle will likely see Oklahoma, Florida, Nebraska, Wyoming and Ohio hosting votes over cannabis. There are also lots of local measures not mentioned here that are going on, so if you’re from out of state (or the Jefferson or El Paso counties in Colorado), make sure to check your ballot.
Arkansas
Issue No. 4 on the ballot in Arkansas — the Arkansas Adult Use Cannabis Amendment — would make recreational use and sales legal in the state. The state’s 40 existing medical dispensaries would be automatically given recreational licenses in March to sell to the of-age general public, but they would have to sell at a new facility at least five miles from any medical dispensary.
Related: Arkansas officials OK signatures for marijuana initiative
Possession of one ounce would be permitted for recreational users, separate from any medical allotments. A sales tax of up to 16.5% would be added, plus any local taxes.
Maryland
Question 4 on Maryland’s ballot, the Marijuana Legalization Amendment, would enable adults 21 years old and over to purchase, possess and use recreational cannabis. The public vote is to enable the Maryland General Assembly to set rules about the implementation details, like regulations on distribution, taxation and more.
Missouri
Missouri’s Amendment 3, the Marijuana Legalization Initiative, would make legal the recreational use and sale of cannabis in addition to allowing individuals convicted of cannabis offenses to petition to be released from prison and have their records expunged. There would only be a 6% retail sales tax placed on recreational cannabis products.
North Dakota
North Dakota’s Statutory Measure 2, the Marijuana Legalization Initiative, would legalize possession and use of up to one ounce of cannabis for adults 21 and up. Individuals could also cultivate three plants. The state’s Department of Health and Human Services would have until October 2023 to establish regulations for the adult use of cannabis.
South Dakota
In 2020, South Dakota voters approved a constitutional amendment legalizing cannabis, but a lawsuit endorsed by Gov. Kristi Noem challenged it in the state’s supreme court. It was ultimately rejected because it legalized recreational cannabis, medical cannabis and hemp, and the state requires constitutional amendments to address only one subject.
Related: South Dakota Could Soon See Recreational Marijuana
If enacted, South Dakota’s Initiated Measure 27 would make it the first state to legalize cannabis twice. Unlike its predecessor, this bill does not address taxation, licensing or other regulatory hurdles in legalization. Measure 27 is all about legalizing the possession, distribution and use of recreational cannabis for adults 21 years old and over.
5 states trying to legalize recreational cannabis Nov. 8
About Cannin: Your Cannabis Stocks Resource
78% of Cannin’s fundamentals prove true within 30 days or less on 100+ recommendations over the past 2 years.
Cannin is your #1 trusted resource for cannabis stocks. Our global team of experts evaluates all emerging cannabis stock investing opportunities. In fact, we aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2021.
Use Cannin as your resource for:
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Are you looking to buy stock in hemp companies or marijuana companies for 2021? If so, are you interested in new penny hemp stock companies? Or, looking for the best Canadian cannabis stocks to invest in? Maybe, you’re looking to leverage the power of algorithmic stock trading to beat the cannabis market? We can help.
Are you interested in cannabis stocks like Curaleaf, Trulieve, Aurora Cannabis, Charlotte’s Web, Canopy Growth, or Hemp Inc.?
Predict price movements of cannabis stocks several hours in advance with our proprietary algorithmic stock trading software.
- +34% Gains in 2022
- +56% Gains in 2021
- +30% Gains in 2020
- +49.8% Gains in 2019
- Backtested since 2012
In fact, we’re so confident you’ll love our algotrading cannabis stock signals, we’re willing to give you a one week risk-free trial to see it for yourself.
Profit from the best cannabis stocks – we’ll show you how at cannin.com.
