Thursday, 15 November, 2018

Michigan, Missouri and Utah vote to legalize marijuana in midterm election

Marijuana legalization on the ballot in four states Michigan Voters Legalize Marijuana
Jodi Jackson | 08 November, 2018, 04:27

North Dakota also had a ballot measure for recreational marijuana legalization, but it did not pass.

The ETFMG Alternative Harvest (MJ) ETF, which invests primarily in cannabis companies, surged 2.2% ahead of market open Wednesday morning after a 17% gain in the week leading up to midterm elections.

Permit retail sales of marijuana and edibles subject to a 10% tax, dedicated to implementation costs, clinical trials, schools, roads, and municipalities where marijuana businesses are located.

Voters in several states - including MA - voiced their opinions Tuesday on marijuana ballot initiatives, ranging from legalization to potential restrictions on cannabis shops in town.

"Western and northeastern states have led the way on legalizing marijuana, but the victory in MI powerfully demonstrates the national reach of this movement", said Maria McFarland Sanchez-Moreno, executive director of the Drug Policy Alliance who questioned how long the federal government could resist the legalization wave.

While Michigan is the tenth state to legalize the recreational use of marijuana, passing such a proposal would have been unthinkable half a century ago.

MI voters approved a measure permitting people over age 21 to smoke pot recreationally.

Utah voters also approved medical marijuana - in a way.

MI residents over 21 years old will soon be able to buy, possess, use, and grow marijuana. The compromise is more restrictive than other states' medical marijuana efforts, since patients won't be allowed to grow their own weed and can only smoke the prescribed bud under certain circumstances. There were some potential pitfalls with the drafting of the measure, which lacked any provisions to regulate the marijuana industry in the state. "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". At that point, using and possessing marijuana will be legal, but, like MA, it could take a couple years to establish a system for retail businesses. The constitutional amendment will allow patients with cancer, HIV, epilepsy and other conditions access to the drug. Each legalized growing, manufacturing, selling and consuming marijuana and marijuana products for medicinal use. Amendment 2 passed by a margin of 66 percent to 34 percent.

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