The numbers 11 and 33 come up quite often when the topic of marijuana legalization is discussed. Currently, 11 U.S. states allow the legal use of recreational marijuana, while 33 states have legalized medical cannabis. But those numbers could soon change.
Nine states could be on track to hold key votes on some form of marijuana legalization in 2020. Here are the states that could be next on the marijuana map -- and the stocks that could be poised to profit the most.
The legal marijuana industry is budding before our eyes. What had once been considered a taboo industry that was swept under the rug by lawmakers has now become a front-and-center issue, as well as a big-time moneymaker for investors and companies involves in the pot industry.
One of the signs of cannabis-related change next year is the new political committee Make It Legal Florida, which registered with the state earlier this month. It’s chaired by Nick Hansen, a longtime advisor to Republican State Sen. Jeff Brandes of St. Petersburg, who recently took on the role of southeastern director of government affairs at MedMen, the California company that’s attempting to take the retail pot world by storm.
The marijuana industry is fast-paced is more ways than you can imagine. Sure, growth estimates for the industry are through the roof, with various Wall Street estimates suggesting that global annual sales could grow to between $50 billion and $200 billion in roughly a decade's time. But this isn't the only dynamic aspect of legal cannabis.
After the movement to legalize marijuana scored several victories in New England, pot proponents have come up against unexpected stumbling blocks in New Hampshire and Vermont.
This was supposed to be the big year for marijuana legalization. But in many state capitols across the country, efforts have stalled or collapsed as Democrats clash over everything from race and criminal justice to how to divvy up a gold mine of pot-tax revenue.
Legalization of recreational marijuana seemed all but inevitable in at least a half-dozen states when the year began — including New York, New Jersey and Illinois, which all have Democratic legislatures.
The 11th state to legalize recreational weed will be...
So, which state looks to have an inside track on becoming the 11th to legalize adult-use marijuana? Had you asked a few months ago, it looked to be a neck-and-neck battle between New Jersey and New York. Unfortunately, efforts to legalize marijuana in both states fell apart, and neither looks to be in a position to pass legislation anytime soon. Instead, the Land of Lincoln appears to be in the pole position to become the 11th recreationally legalized state.
New Jersey Gov. Phil Murphy has signed three bills into law – two of which are supposed to give students more incentive to pay off their college debts.
But what about the bill that many people have been waiting for – marijuana legalization – and appeared to be on its way toward becoming law until plans were recently scuttled at the last minute?
Three legislative sources told NJ Advance Media that discussions have started on separating the medical and legalization bills and reviewing them separately.
While the recent expansion of cannabis laws will certainly affect society as a whole, the effect that this societal change will have on the workplace presents unique challenges for employers. New Jersey, like the majority of states, has loosened its laws to permit the use of medical cannabis. In addition, many have speculated that the passage of Senate Bill 2703, currently known as the New Jersey Cannabis Regulatory and Expungement Aid Modernization Act (“SB 2703”), is imminent, which will legalize adult-use cannabis.
Governor Phil Murphy, Senate President Steve Sweeney, Assembly Speaker Craig Coughlin, Senator Scutari, and Assemblywoman Quijano today announced an agreement on the broad outlines of legislation to legalize adult-use marijuana in New Jersey.