Marijuana On The Ballot: State-By-State Opportunities For Entrepreneurs
Voters could legalize recreational marijuana in five states this November and medical marijuana in three more. This record number of state ballot measures promise to be a great boon for the cannabusiness industry. With national prohibitions against interstate cannabis commerce, as well as current federal banking and drug laws, large companies have been kept out of the industry, so the market is still primarily comprised of small businesses.
California, Arizona, Maine, Massachusetts and Nevada will consider legalizing the recreational use of cannabis while Florida, Arkansas and North Dakota will decide on marijuana for medical purposes.
What’s going on state by state?
California, Prop 64
California is the biggest potential market in the country and the passage of Prop 64 “will create an explosion in the value of compliant medical marijuana dispensary and cultivation licenses in good standing,“ said Steve Gormley, CEO of Seventh Point LLC a private equity fund acquiring...
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