The green rush isn’t over as more states look to legalize
For as crazy as 2020 has been, it was another banner year for the cannabis industry and U.S. marijuana stocks. That’s because the November election yielded a green sweep. As of today, 36 states have waved the green flag on medical cannabis, with 15 also allowing for the adult-use consumption and/or retail sale of marijuana.
However, this story isn’t finished. With national pollster Gallup finding that favorability toward U.S. legalization hit a new all-time high in 2020 of 68%, it’s only logical to expect new states to push for medical or adult-use legalization in the upcoming year. Although 2021 isn’t a big year for elections, the following three states are, in my view, the most likely to go green.
This might finally be the year that New York, a potential multi-billion dollar market for cannabis, legalizes recreational marijuana.
Back in 2019, lawmakers in the Empire State came very close to rolling out the red carpet for adult-use weed. Discussions regarding recreational legalization hit a snag when some members of New York’s Legislature disagreed on certain social equity factors, such as the expungement of previous convictions for possessing marijuana. This disagreement ultimately caused talks to stall out.
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