The political turmoil over marijuana comes as five northeastern Democratic governors announced last month that they had reached an agreement to fully legalize marijuana. Three of the states — New York, New Jersey and Connecticut, where Democrats are in complete control of the government — already have spent months squabbling over the specifics of complex legislation that would legalize cannabis sales.
The idea is that there would be uniform standards for market regulation, including:
- Licensing.
- Taxation.
- Minority participation.
- Small-business participation.
- THC potency.
But how realistic is it that the Northeast could, in effect, become a regional bloc that legalizes adult-use marijuana with a unified regulatory framework?
Despite the previously held belief that adult use recreational marijuana in New Jersey would have to await a ballot referendum in 2020, there is newfound optimism that a vote on legal cannabis may yet take place this year. Certain New Jersey lobbyists and industry leaders believe that the success of medical marijuana in New Jersey may prompt a vote on recreational adult use marijuana.
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.
New York Gov. Andrew Cuomo (D) announced on Tuesday that he plans to meet with the governors of Connecticut and New Jersey to discuss ways to create consistency within each state’s respective marijuana programs as they move forward with plans to legalize.
New Jersey
Last week, Politico reported Democratic Senate President Steve Sweeney moved to ban the sale of all vaping products, including marijuana vape products.
That followed New Jersey Gov. Phil Murphy announcing a task force on vaping that is due to file recommendations in the next three weeks.
“The only safe alternative to smoking is not smoking. Period. Full stop,” Murphy said..
Gov. Phil Murphy signed legislation Friday allowing New Jersey to enact an industrial hemp program.
The law establishes a program for the cultivation, handling, processing, transport, and sale of hemp; and also repeals the New Jersey Industrial Hemp Pilot Program enacted in the fall.
Ready or not, election season has begun. Last month, 20 presidential candidates from the Democratic ticket held two separate debates (10 candidates for each debate), with the field having now grown to roughly two dozen hopefuls.
But this isn't the only battle brewing. There's another topic that's garnering a lot of buzz throughout America, and it's going to get its share of the limelight in 2020. I'm talking about the green rush, marijuana.
Marijuana policy experts predicted that this year would be a "real game-changer" in terms of cannabis reform at both the state and federal level. But halfway through 2019, the movement has had less progress than hoped.
"The reality is that public policy change rarely works that way. Slow and steady tends to be how change like this happens," John Hudak, deputy director at the Brookings Center for Effective Public Management, told Newsweek.
Advocates of legalizing marijuana for recreational purposes scored their most significant legislative victory of the year Friday when the Illinois state House gave final approval to a measure allowing residents over the age of 21 to purchase and use cannabis products.
But their win in Springfield comes at the end of a string of defeats in what was supposed to be a banner year for legalization. Even supporters of recreational use acknowledge their legislative agenda has run into more roadblocks than they expected.