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Recreational marijuana on the ballot in five states on Tuesday

Recreational marijuana could become legalized in five more states if voters approve measures on the ballot Tuesday.

Those states are Arkansas, Maryland, Missouri, North Dakota and South Dakota. Marijuana is currently legal in these states for medical use.

Based on recent polling, it appears the only state a measure will definitely pass is Maryland. The other four states are more uncertain.

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Maryland looks to be a shoo-in for marijuana reform advocates. An MJBizDaily polling trend tracker found that as of the week ended Sept. 27, 73% of Maryland voters were in favor of legalization.

For the same week ended, the MJBizDaily tracker found that 48% of Missouri voters support legalization with 17% undecided.

In Arkansas, based on a poll taken in mid-October, support for the measure is only at 50.5% with 6.5% undecided.

In both of the Dakotas, it appears measures are facing an uphill battle. Support for measures in both states has been below 50% based on polling data.

In South Dakota, the ballot question isn’t to create a legalized market, but instead to allow possession and home cultivation. Voters approved recreational marijuana use in the 2020 election, but the measure was overturned by the state supreme court.

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Voters in North Dakota previously rejected a legalization measure in the 2018 midterm elections.

Multi-state operators: Cresco Labs (OTCQX:CRLBF); Columbia Care (OTCQX:CCHWF); Trulieve Cannabis (OTCQX:TCNNF); Green Thumb Industries (OTCQX:GTBIF); Curaleaf Holdings (OTCPK:CURLF); MedMen Enterprises (OTCQB:MMNFF); Acreage Holdings (OTCQX:ACRHF); Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF); and Jushi Holdings (OTCQX:JUSHF).

Cannabis-related ETFs: AdvisorShares Pure Cannabis ETF (YOLO), Amplify Seymour Cannabis ETF (CNBS), ETFMG Alternative Harvest ETF (NYSEARCA:MJ), AdvisorShares Pure US Cannabis ETF (MSOS), and Global X Cannabis ETF (POTX).

Currently, cannabis is legal for adult use in 19 states, plus the District of Columbia.

In late October, Senate Majority Leader Chuck Schumer (D-N.Y.) said that the Senate was very close to agreeing on legislation that would allow cannabis businesses access to the US banking system.

Recreational marijuana on the ballot in five states on Tuesday


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