Economy

Three states vote to legalize marijuana in midterm election

Three states vote to legalize marijuana in midterm election

Proposal 1 legalizes the use and sale for adults 21 and older.

MI is one of only two states, the other being Alaska, where households are allowed to grow 12 marijuana plants. Missouri also voted to legalize medical marijuana Tuesday. "But with legalizations looming - perhaps within the next two years - and more States creating medical and recreational programs, we believe cannabis stocks are on a firm upward trajectory, although there may be a few dips along the way".

Cannabis stocks gained Wednesday, led by Tilray and Cronos Group Inc. That's right: We're now as radical as Canada. (OTC: ACBFF) surged 3.8% in pre-market trading, Canopy Growth Corp. (TLRY) grew 8.2%, and New Age Beverages Corp.

Following the results, cannabis producers were rising across the board. Scotts Miracle-Gro (SMG) saw marginal gains, MedMen Enterprises (MMNFF) surged 4.67%, and MariMed (MRMD) rose 1.28%. Sales there, estimated to start in 2020, could grow to as much as $1.7 billion in the coming years, according to the trade publication Marijuana Business Daily. This legalizes medical marijuana for people with certain qualifying conditions, such as HIV/AIDS, cancer, chronic pain, and multiple sclerosis. The proposal also legalized commercial sales of marijuana through state-licensed retailers subject to a 10 percent tax.

MI voters approved Proposal 1 Tuesday, which legalizes adult recreational marijuana use in the state, but sales may not begin until 2020. Support for medical marijuana is considerably higher: A Quinnipiac University poll conducted last April put it at 93 percent. "While members of Congress in both major parties have become increasingly supportive of good marijuana legislation, approximately 90% of Democrats-and only 25% of Republicans-support such legislation generally". And research from Washington State University found that police in Washington and Colorado are solving crimes faster than their peers in states without marijuana legalization.

Samsung Electronics to launch Galaxy J4+ next week
The most expensive Galaxy S10 variant will reportedly feature a triple-camera system at the back, as well as a separate 5G modem. Camera aside, there are other components to consider as well like its proximity sensor and earpiece speaker.

In Utah and Missouri, voters on Tuesday decided that patients should have access to medical marijuana. They ultimately voted yes on Amendment 2, and no on the other measures. Amendment 2 passed by a margin of 66 percent to 34 percent.

MI voters have legalized the sale and use of recreational marijuana, making their state the first in the Midwest and the 10th overall to do so.

With every election, the United States gets a step closer to a nation of legal recreational weed.

Internationally, the North American continent stands to be a global leader in the medicinal and recreational marijuana industry.


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