The mid-term election cycle are also likely to be significant for Cannabis—four states are taking legalization measures to the people Tuesday (6-Nov-2018).
What, exactly, are voters deciding on? In Michigan and North Dakota, voters will see ballot initiatives to legalize recreational adult-use cannabis. In Utah and Missouri, the measures seek to legalize medical marijuana.
And if they pass, this year could mark a turning point for marijuana:
- Canada already became the first major world economy to legalize recreational marijuana nationwide.
- California opened up the biggest legal marijuana market in the world.
But how likely are these measures to become law? Well, if national attitudes are any indication…
Follow the green: Per BDS Analytics, worldwide consumer spending on legal pot is set to hit $57 billion by 2027. That means big bucks for state coffers, too.
- Colorado’s slated to post a record $1.5 billion in legal cannabis sales this year, which will earn the state more than $250 million in tax revenue.