San Francisco (CNN Business)In 2016, the US election resulted in a green wave as cannabis legalization measures passed in eight out of nine states.
Now, the industry and its supporters are hoping for another big win in November.
This year, voters in five states will decide whether to adopt either new medical or recreational cannabis laws — or, perhaps, both in the case of one state.
As it stands now, 33 states have legalized medical cannabis, and of those, 11 states have legalized cannabis for adult recreational use.
If more states join that list, it could serve as a huge opportunity for industry growth as legalization supporters believe successful ballot initiatives could have a domino effect on other states — especially those looking to address budgetary and social justice issues.
“We’ve seen public support continue to grow every year,” said Karen O’Keefe, director of state policies for the Marijuana Policy Project, the legalization advocacy group backing several of the measures.
Cannabis sales in states that have legalized the plant for medical and recreational purposes totaled about $15 billion in 2019, and are expected to top $30 billion by 2024, according to data from BDS Analytics, which tracks dispensary sales.
Below is a look at the five states voting on legal cannabis this November.
To Read The Rest Of This Article By Alicia Wallace on CNN
Published: September 12, 2020
Founder & Interim Editor of L.A. Cannabis News