Cannabis sales are soaring around the state of the legal Cannabis Market Research and BDS Analytics, worldwide legal weed revenue more than tripled between 2014 and 2018 to $10.9billion, and this is really just the tip of the iceberg. Yet the United States, the most lucrative market for marijuana in the world, remains a hostile place for cannabis, at least at the federal level. Despite growing support among the unlicensed to legalize cannabis on a national level, lawmakers have stood part on their schedule 1 classification of pot. This ensures it remains entirely legal at the federal level.
A number of states aim to legalize adult-use cannabis in 2020
However, this hasn’t stopped individual states from legalizing cannabis in some capacity on the last 23 years. Beginning with California in 1996, a grand total of 33 states have legalized medical marijuana. Of these 33 states, 11 have passed legislation allowing for legal consumption and/or sale of recreational weed. And this could be just the beginning.
In 2020, a major election year, there are 6 states currently trying to get a get a recreational marijuana initiative or amendment onto their ballots. These initiative or amendments are the review or signature-gathering stage at the moment, which offers no assurances that they’ll eventually make it to the ballot for vote in November 2020. Nevertheless, the wheels have been put in motion to potentially legalize adult-use weed in the following six states(listed in alphabetical order).
The most logical state try to pass a recreational marijuana bill in 2020 is Arizona. The Grand Canyon State tried to pass a recreational marijuana initiative in 2016, with voters narrowly disapproving of the measure. We’re historically seen second attempts at legalization pass, this is what previously happened in both California and Oregon, and is expected to Arizona in 2020.
Legalizing recreational weed in Arizona would be nice boost for multistage operator (MSO) Harvest Health & Recreation. Harvest health isn’t exactly the best-known dispensary operator in the country, but on a pre forms basis, it has more retail stores in Arizona , giving it a notable presence in what could be a cannabis battleground state next year.
In Arkansas, there are no fewer than three initiated constitutional amendments in the signature gathering stage that would tackle recreational cannabis and/or perceived social injustices caused by incarceration from marijuana-related convictions. Both the Arkansas marijuana legalization initiative and Arkansas Recreational Marijuana initiative would legalize adult-use pot for those aged 21 and over.
Similar to Arkansas, the sunshine state has a number of initiated constitutional amendments that are in the signature gathering to either amend the states medical marijuana program or legalize recreational cannabis.
For example, the Florida marijuana legalization Initiative would green-light the possession of up to 1 ounce of cannabis by residence aged 21 and up. There would be also be a home-grow operation allowing for up to six plants per household, with no more than three flowering at once. These plants would also need to be in an enclosed and locked up space, and could not be sold.
Yet another initiated constitutional amendment come a to us from Missouri. Currently in the signatures gathering phase, the Missouri marijuana legalization and expungement initiative would alter the state’s constitution to no longer make it illegal to use, grow or sale cannabis at the commercial level. It would also throw out previous convictions for non-violent marijuana offenses, similar to what Illinois did. This bill would also prohibit the taxation of physician- recommended medical marijuana.
Like Arkansas, the one complication here is that Missourians only legalized medical marijuana by vote only a year ago and the product became available I licensed dispensaries in recent months with little lead time to build up the appropriate sales infrastructure, it’s unclear what sort of support a recreational legalization measure would generate in the show-me state.
5. New Jersey
The garden state actually looked to be well on its way to legalizing recreational marijuana at the legislative level earlier this year, but efforts to wave the green flag eventually fell apart before reaching the finish line.
The New Jersey marijuana legislation Amendment is a legislatively refereed constitutional amendment to legalize recreational weed. It can find its way onto the ballot through a 60% vote from both chambers of state’s legislature during a single session, or a majority vote in both chambers during two successive sessions. Like Arizona, New Jersey looks to have a pretty good chance to legalize adult-use cannabis in 2020.
6. South Dakota
The South Dakota mMarijuana and Hemp Initiative is an initiated constitutional amendment that’s currently gathering signatures. If passed, the measure would legalize the possession, use, transport, and sale of adult-use cannabis for persons aged 21 and up. South Dakota’s department of revenue would be responsible for issuing all licenses for cultivation, testing, distribution, and retail, with a 15% tax rate applied to legal weed sales. This tax revenue would first go to cover costs associated with cannabis industry governance, with the reminder headed to state schools and the general fund.
Considering that South Dakota has no existing marijuana infrastructure in place, jumping from everything being illicit to a green light for all. Might be a bit much to ask