Summary List Placement
Cannabis legalization is sweeping the US, and experts and industry watchers say that Democratic control of Congress and the White House could spur more reform in the coming months.
Senate Majority Leader Chuck Schumer has said that cannabis reform will be a top priority this year, though that could be a tall task given the Democrats’ slim majority.
Cannabis is also gaining ground on the state level. Five states voted to legalize cannabis in some form in November’s elections.
New Jersey, Arizona, South Dakota, and Montana in November voted in favor of legalizing cannabis for all adults over the age of 21. South Dakota also passed a medical cannabis measure, as did deep-red Mississippi.
In March, New York followed in its neighbor’s footsteps, passing cannabis reform through the state legislature.
New York could have a bigger market than New Jersey, due to its population and the tens of millions of tourists that visit the state every year (in a non-pandemic year).
Companies already operating in New York told Insider that they’re gearing up cultivation capacity. Operators eyeing the Empire State say they’re watching closely as regulations shape up but that they’re leaning toward entering the market as cultivators, rather than retailers.
Meanwhile, companies are already racing to take advantage of the New Jersey market. In February, New Jersey Gov. Phil Murphy signed legislation legalizing cannabis and establishing commercial sales in the state.
To put together this ballot tracker, Insider tapped a variety of sources to explain the nuances of each state’s ballot measures and where polling stood prior to the votes. We’ve also included market-size projections to give a sense of how important each state could become for businesses and investors.
Here’s everything you need to know about the new wave of US cannabis legalization:
This article was published on October 9. It has been updated with election results, the results of the House vote on the MORE Act, Georgia’s Senate results, and the inauguration of President Joe Biden on January 20. It was updated on February 22 after New Jersey Gov. Phil Murphy signed legislation legalizing marijuana and again on April 1 after New York passed recreational cannabis.
What’s in the law: New York lawmakers passed the Marijuana Regulation and Taxation Act on March 30, and Gov. Andrew Cuomo signed the bill the next day.
People in New York are now allowed to possess and consume cannabis, but sales aren’t expected to begin until mid-to-late 2022. More rules are expected in the coming months but according to the lanauge in the bill, the 10 cannabis companies currently operating in New York’s medical market will be allowed to transition into adult-use if they pay a one-time fee.
No operators — aside from the state’s medical companies and select social equity businesses called “micro-businesses” — will be allowed to be vertically integrated in the state, giving incumbents a big advantage.
Which companies will benefit: Cresco Labs, Acreage, Columbia Care, Curaleaf, and Green Thumb Industries, according to Cantor Fitzgerald analyst Pablo …read more
Source:: Business Insider
GRAMMYS 2021: Watch Doja Cat’s ELECTRIFYING Say So Performance
Doja Cat took fans to the future with an electrifying performance of her smash single ‘Say So’ during the GRAMMYs, which aired Sunday on CBS. For the 25-year-old singer’s debut appearance at the GRAMMYs, she delivered impressive vocals and fierce choreography. ET spoke with Doja on the red carpet ahead of music’s biggest night, where she explained what it felt like to attend her first-ever GRAMMY Awards.