How Recreational Cannabis Voting In The US Will Impact The Cannabis Sector

This week, voters in several states will vote on legalizing recreational cannabis and we believe the United States (US) is approaching an inflection point.

For the first time in the history of our platform, a state will vote on legalizing medical and recreational cannabis for the second time. In 2020, South Dakota voters passed legislation to legalize both medical and recreational cannabis. Although the state’s Republican Governor refused to sign the legislation into law  when it was passed in 2020, she said she would pass the legislation if voters vote in favor of it.

Currently, recreational cannabis is legal in 19 states and the District of Columbia. Other states that are voting on recreational cannabis include: Arkansas, Maryland, Missouri, North Dakota, and South Dakota. If theses states vote in favor of legislation, recreational cannabis will be legal in approx. half of the states in the country. 

Legal cannabis is one of the few issues in Congress that has bi-partisan support and we would be surprised if legislation is not passed in 2023. We believe that states are in dire need of finding new taxable revenue streams and consider cannabis to be part of the solution. 

During the last year, there has been a significant increase in the number of Canadian cannabis companies that have acquired some type of cannabis asset in the US. From breweries to cannabidiol (CBD) brands, Canadian cannabis companies have targeted a wide variety of assets to enter the market. 

If you are interested in learning aboutCanadian cannabis companies which are levered to the US cannabis industry, please send an email to support@technical420.com with the subject “Canadian Cannabis Companies in the US” to be added to our distribution list. 

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Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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