The cannabis industry has been working with new legislation to begin pushing the industry forward throughout the U.S. For some time now, many states have been fighting for laws that work in favor of the cannabis industry due to the overwhelming support from the public. Recent polls have shown that the number of the public that supports cannabis has shot up massively over the course of the past ten years, but many laws have yet to reflect this. California has been hailed as the father of cannabis legislation after becoming the first state to allow medicinal cannabis back in 1996. Since then, the state has been looked at as an example for the rest of the industry to look at. As it currently stands, as many as nine states have legalized the use of recreational cannabis with 30 states having legislation to allow the use of medicinal cannabis. The midterm elections are on their way which means that as many as four more states could legalize the use of cannabis in the near future.
One of the states that many have been excited to see what happens has been Michigan. Michigan will vote as to whether or not to legalize the use of recreational cannabis in November, and the ballot currently has over 20,000 more signatures than necessary to get it voted upon. According to the report, “Michigan’s Marijuana Legalization Initiative, also known as Proposal 1, would allow adults aged 21 and over to purchase and possess marijuana. Retail sales would be hit with a 10% excise tax, much of which would be disbursed to local governments and the state’s kindergarten-through-12th-grade education system.” Much of the public has been interested in the high amount of tax due to the amount that it can contribute to public funds for the future of the state. This has proven to be one of the driving factors for the ballot to pass.
The next state that has been working to do such has been Utah. Utah has been a shocking state for investors to watch due to the fact that it is traditionally a conservative state but they have received as much as 40,000 more valid signatures than needed. This shows that the public has a strong desire to see cannabis be legalized which could happen in the near future. According to the report “The Utah Medical Cannabis Act, or as it’s also known, Proposition 2, supports the legalization of medical cannabis for patients with qualifying illnesses. Qualifying patients would receive a medical cannabis card from their physician, which would allow the patient to purchase either two ounces of unprocessed marijuana or up to 10 grams of tetrahydrocannabinol (THC) or cannabidiol (CBD) within a two-week period.” Now, this legislation may seem to be more on the conservative side, but it is as mentioned prior, a start to what is considered to be one of the more conservative states in the U.S.
Cannabis legislation has been one of the most important parts of moving the industry forward as a whole. The hopes are high that in the near future, states like the ones mentioned above can continue their reign toward making the industry legal in the coming years.
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