Undeniably, the cannabis industry is growing just like the plant. It is the pun of all puns. According to ArcView, a cannabis research firm, the legal-cannabis market in North America saw sales surge by 34% in 2016.
The research firm also opines that they’ll rise by 26% annually averagely through 2021. That is a roughly $22 billion market at stake. Most certainly, investors want a piece of the pie.
Although Mexico legalized medical pot in June and Canada might be almost legalizing recreational weed by July 2018, many people still view the U.S market as where the greatest opportunity for legal pot industry lies.
Here’s a list of the five states angling to vote on recreational marijuana in 2018:
Nebraska is also contemplating to initiate the dual-legalization efforts. Just like Missouri, Nebraska has not legalized medical pot. Actually, Oklahoma and Nebraska sued Colorado based on allegations that Colorado’s recreational weed would be trafficked to their neighboring states.
The Supreme Court denied the suit in 2016. There’s a slim chance that Nebraska will still make it to the ballot 2018 despite her past stand. The state’s measure seeks to create a constitution right for those of age 21 and above to consume, manufacture as well as distribute cannabis for commercial or personal purposes.
Missouri is angling to do something, which Ohio attempted in 2015 and miserably failed – legalizing medical and recreational pot simultaneously. Presently, it’s among the 21 states that haven’t legalized medical pot. While there are some initiatives vying for a ballot spot in 2018, half of them pertain to industrial hemp or recreational weed. With their next year’s attempts, the state aims to remove pot from their list of controlled substances.
The legalization will also legalize the sale of marijuana to recreational and medical users. With the successful implementation of the bill, prisoners imprisoned for non-violent cannabis-related crimes will be released.
According to rumors, Michigan has tried to pass a recreational legalization bill. In 2016, pro-legalization groups tried to put a bill on the ballot. Unfortunately, it fell short of the needed signatures. With money and time pouring to the state in 2017, there seems to be reasonable shots at the recreational initiative making to the ballot next year. If passed, the legalization will allows anyone aged 21 years and above to possess, use and even transport 2.5 ounces of pot or 15 grams of pot concentrate as well as grow 12 plants at home for personal use.
Prior to successfully passing a medical-pot amendment in November 2016, it took the state of Florida until the second try. In this state, passing pot legislation needs changes to its constitution. Consequently, just a simple majority vote isn’t enough. Rather, a majority vote of 60 percent is needed for successful amendments. In November 2014, medical-pot amendment in Florida fell by a mere 2% of the needed vote. Nonetheless, with improved efforts from pro-legalization groups in 2015 and 2016, the amendments passed with ease (71% yes and 29% no).
Now it seems the pro-legalization groups are back to garner support for recreational legalization. To alter the state’s constitution, it will still need 60% of the vote. If passed, among other things, residents will have permission to grow six plants per household. Nonetheless, under this legislation, only three of the plants could mature. Additionally, the plants will need to be in a secure and enclosed space to be aware from adolescents.
Of the states considering legalizing recreational marijuana in 2018, Arizona appears to be the most logical. On its Nov. 2016 ballot, Arizona put a recreational-pot measure. It failed to pass by only 2%. In the recent past, progressive states such as California and Oregon have failed to pass the recreational-weed initiative on their maiden try. Consequently, focused efforts by groups backing the legalization of pot might sway voters to pass this measure in 2018.
The Arizona Marijuana Legalization Initiative aims to legalize the possession and use of marijuana by anyone over 21 years. The measure also seeks to allow for cultivation of 48 plants with over 0.3% THC level. According to the 2018 measure, local jurisdictions will be forbidden from passing laws that would prevent legally operating pot businesses from operating.