Closeup of election vote button with text that says Marijuana
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If there was a clear winner that emerged from the highly contentious 2020 November 3rd election, it was marijuana. Yesterday, all five states that had cannabis legalization measures on their ballots, passed overwhelmingly. Breaking it down, Arizona, Montana, New Jersey and South Dakota legalized adult-use, with the latter also approving a medical initiative. Mississippi voters also jumped into the fray by supporting two medical cannabis initiatives.
As a result of these wins, 15 states, which also includes D.C, now have legal adult-use markets while 36 (plus D.C.) have approved medical markets. This is a special victory for an industry in which businesses are still hampered by the banking ban caused by the federal illegality. These punitive restrictions have forced many cannabis businesses to operate as cash-only enterprises even if they subsist in a legal market. Then there…
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