Marijuana expands into three more states

Jeannie Matthews
November 8, 2018

The measure would have reduced penalties for a variety of cannabis-related crimes and would have changed the state's constitution to focus on treatment instead of incarceration in drug-related charges.

MI voters have passed an initiative to legalize marijuana.

With Michigan voting to legalize adult use, neighbors like OH and IL could soon follow suit to help build a market in that region.

So far, 10 states and Washington, DC, have legalized the full use of marijuana, and 33 states and Washington, DC, have legalized medical marijuana.

Missouri voters approved one of the medical cannabis measures on the ballot. The proposal also legalized commercial sales of marijuana through state-licensed retailers subject to a 10 percent tax.

Recreational marijuana sales in Canada are expected to generate $4.3-billion in revenue in 2019, or slightly more than 60 per cent of the country's total $7.1-billion marijuana market, which includes medical and illegal sales, consulting firm Deloitte noted.

Investors say that they are watching Canada, where the legal recreational use of marijuana went into effect in October, as a testing ground for retailers and companies before USA legalization.

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MI voters legalized recreational marijuana use for residents over the age of 21 with retail sales of the product subject to a 10 percent tax.

The state will have up to two years to develop the rules and regulations for marijuana businesses, to accept applications, and grant those first licenses.

MI is one of only two states, the other being Alaska, where households are allowed to grow 12 marijuana plants.

Adding two more states with medicinal marijuana would mean nearly 70 per cent of Americans could have access to the drug for that objective. When Gallop began polling Americans about the marijuana legalization in 1969, just 12 percent of respondents supported the issue. It would, however, have legalized cannabis for residents 21-years-old and over, and expunged old convictions for cannabis possession. A similar measure in North Dakota, however, appears destined for defeat, though Legalize ND campaigners say they won't concede until all votes are counted-and if the measure does fail, they will try again in 2020, the Grand Forks Herald reports.

"Encouragingly, support for cannabis achieved bipartisan support previous year and Republican support was up 2 percentage points in 2018 to 53 percent", Azer told CNBC last week. As there's no list specifying qualifying illnesses or disorders, doctors will be allowed to recommend medical cannabis to patients as they see fit.

Florida voters approved a ballot measure that will restore voting rights to 1.5 million ex-felons when they complete their sentences.

It's unclear if marijuana bills could get through the Republican-held Senate.

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