With so much going on with cannabis legalization, we wanted to make sure you know what is happening around the United States…

At the South by Southwest conference in Austin, Texas, last week, former House Speaker John Boehner firmly stated: “It’s time for the federal government to get out of the way.”

He was talking, of course, about the cannabis industry. “It’s clear this market is going to expand,” he said, “and as it does, lawmakers in Washington have to look up and realize that the federal government is way out of step.”

Anyone who viewed our American Cannabis Summit won’t be surprised to hear that coming from the former speaker. He may have once claimed to be “unalterably opposed” to cannabis legalization, but he now believes it’s time to “go all in.”

It’s difficult to say exactly how long it will be until the federal government stays completely out the way by removing marijuana from Schedule 1 under the Controlled Substances Act and legalizing cannabis nationwide.

Speaker Boehner, for his part, thinks it will happen within the next five years. A good friend and colleague of mine thinks it could happen even sooner.

Until we see the federal legalization of cannabis, though, individual states will continue to fall like dominoes. A total of 10 states and the District of Columbia have already legalized the adult recreational use of cannabis, and another 23 states have legalized its medical use.

Understanding how cannabis regulations are rolling out across the country is an invaluable part of becoming an informed cannabis investor.

So today, I want to update you on the legalization efforts of eight key states…

Alaska: The Last Frontier

Alaska has a novel idea to allow cannabis users to purchase products and use them on site at cannabis stores. I’m interested in this model because in places like Las Vegas, it’s pretty darn difficult to find a place to smoke marijuana if you’re a tourist.

You can’t do it outdoors, and if you want to stay on The Strip and go gambling, hotels won’t allow you to smoke a joint in your room.

In Alaska, the consumption area will have to be separate from the retail space of a dispensary, either by a wall with a secure door or an outdoor patio.

Florida: The Sunshine State

The cannabis laws in Florida are still a little wonky, but it’s starting to get easier for medical patients to access cannabis-based medicine.

For example, lawmakers recently fought the state’s ban on smokable medical cannabis. Under the terms of Bill SB 132, doctors would also be able to order a six-month supply of medical cannabis for patients, which is triple the current limit.

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Illinois: The Land of Lincoln

Over the past few years, there has been a budget crisis in Illinois. The state did not have a state budget for the fiscal years 2016, 2017, and part of 2018. That led many state agencies to cut services.

That’s why officials are now looking for new ways to generate revenue. One of them could be through legalized cannabis. The new Illinois Governor J.B. Pritzker (IL-D) supports recreational cannabis use, and legalization in Illinois is logical with Michigan residents already having voted for full legalization.

Missouri: The Show-Me State

This is more about cannabis reform, but it is still newsworthy because it sometimes takes baby steps before full legalization can take place.

Medical marijuana patients in Missouri could have records for certain cannabis convictions expunged under a bill that passed the state House of Representatives.

“Missouri has a chance to make history. This bill goes right in form with the things that we’re trying to do here in Missouri on the criminal justice side of things,” Representative Ron Hicks (MO-R) said in a statement.

New Jersey and New York: The Garden State and the Empire State

There’s a race between who will legalize recreational use first, but it looks like New Jersey is in the lead. Under the plan from New Jersey Governor Phil Murphy (NJ-D), cannabis would be subject to an excise tax of $42 per ounce, and cities and townships where marijuana retailers operate would receive the revenue from a 3% tax on products sold.

As this gets closer to happening, I’ll let you know what this means for our model portfolios.

New Mexico: Land of Enchantment

New Mexico is getting closer to cannabis legalization reform, and it looks like the state is considering a unique move.

Cannabis will be grown by private businesses, but the product itself will be sold in state-run stores. It’s similar to state-run liquor stores. In Virginia, for instance, their ABC stores generate $230 million a year, with $110 million from taxes and $120 million in profit, according to The Economist.

I’m going to dive deeper into this at a later time if it looks like it will actually happen, but I wanted to make sure you were aware of what was going on with this legalization effort.

Vermont: The Green Mountain State

In Vermont, there is a Senate-passed piece of legislation that would impose a 16% excise tax on sales along with a 2% local option tax for towns that levy the fee. A Cannabis Control Board would also be created for the state, which is a three-person committee that would issue licenses and regulate the cannabis economy.

In the first fiscal year of full legalization in Vermont, officials have projected sales will reach between $3.8 million and $7.4 million. That number is expected to bump up to $16.6 million by 2024.

All of this is good news for our model portfolios, as legalization opens up doors for more products to be sold.

Thank you for being an important part of the National Institute for Cannabis Investors,


Greg Miller

Executive Director, National Institute for Cannabis Investors

P.S. A medical cannabis startup has developed a breakthrough treatment that could cure one of today’s deadliest diseases. With FDA approval, this tiny startup could grow from a grubstake today to $52.5 billion in just a few years. And this is only one of up to six opportunities you could discover this year to enter the lucrative arena of angel investing. Click here to learn more about these rare opportunities.


Comments

31 responses to “These Could Be the Next States to Legalize Cannabis”

  1. Good Morning
    I am very excited about the fact that the country is moving towards total legalization. I have one major concern, I have chosen Robin Hood as my vehicle to purchase stocks. Where I have a problem is that this site does not allow for OTC purchases and I feel like I am missing out on some great opportunities. Please instruct me as to which purchasing vehicle I should use to purchase the OTC stocks.

    • I am a very novice investor. I looked at Robin Hood as I was starting out but didn’t follow through for this very reason. You can invest in a cannabis ETF on Stash. I eventually got set up with E Trade as I did more research and got more comfortable. I love E Trade but there again, I’m still learning about investing as well as cannabis investing.

    • I use both. If I want to purchase I first check to see if it is available on Robinhood. If it isn’t then I use my main account with eTrade.

    • Karl,
      I had to switch to TD Ameritrade from Merrill Lynch. TD has placed and recorded every trade (6 in total) I have placed in the past 2 weeks…Good Luck!

  2. TD Ameritrade is the best platform available for cannabis investing. All the tools and 60 days free trading. Good luck!

  3. I too use TD Ameritrade. This company is easy to use for buying stock. If you have a question or problem , you can call them and they will walk you through it.

    • Gloria, I have used E*Trade since NICI started, and although no problems,
      They do charge $6.95 per trade. I like their formats, for analysis purposes
      history is easy to evaluate.

  4. Four of the last six penny stocks I wanted to buy were turned down by E*Trade so I took them to Charles Schwab where I have other stocks. Trades there are $4.95.

    • Hey Joseph I’m curious which penny stocks those were because I too have eTrade and have been able to purchase everything.

  5. Charles Schwab has worked well for me. Some OTC issues must be called in for some odd reason, but I’ve never been refused a trade.

  6. New Jersey legalizing next Monday March 25, 2019 will be a boon for our holdings, and these companies stocks will get their first real pop!!!! Maxine Waters and House Commitee has marked up or moved up the SAFE BANKING ACT with 138 house co sponsors up for vote to go the full house next Tuesday, March 26, 2019. The Safe Banking Act will make it pop for all cannabis stocks should things move forward to a full House vote and then on to the Senate! Every step and development politically will kick butt for all of our stocks. We are so excited!!!!

    • That’s freakin fantastic. So we need to purchase all we can right now before March 25 huh? Opinion: buy Aleafia now, or wait for the merger to end? Same with ICC & Wayland. If I read correctly Wayland comes out of that with 50.1% and ICC will own 49.9%?

  7. I’m calling Jersey. Does anyone know which public stocks specifically are in each of the states above besides Florida? Also which ones might be a little more positively affected than others? I already know Florida’s companies. Yup it’s me again asking questions. Personally I think Whoville is going to legalize next.

  8. I am a new member of NICI and I have been doing my homework–understanding how to, when, and where to purchase my 1st ever stock of any kind. I have learned that my place of employment has a profit sharing program with Charles Schwab. I can use up to 25% of this money in my newly opened Brokerage account, therefore I will be purchasing my first stocks ever!! on Monday March 25. I am excited and very anxious!!

  9. Hi For those that want to trade other than OTC I recommed Firstrade
    they charge 0 fee for any trade. So I`m useing TDAmericatrade and Firstrade who trade any ETF with no fee.

  10. I too am very new to all of this and enjoy reading all the comments. It is like going over somebody’s home and “chewing the fat” per se. I have a question, if I asked Fidelity I am afraid they would laugh me out of the “Club”. (they do make me feel like welcomed, no issue at all) But, I feel comfortable here. Can I ask a ..What should I do? What would you do? : About a month ago I bought my first stock at 48.00. It dropped to 43.00 in a week. Went back up to 45.00 +/-. Can I, should I, “cut bait” and because I want this stock, can I re-buy it at the current price?

  11. I have Parkinsons so have bought a number of cannabis stocks .My Broker who bought these stocks now refuses to deal in any stocks and won’t even sell them saying there may be some legal reason for holding cannabis stocks .What should I do..?

  12. I need help in analyzing when to sell. I have researched but I am still quirky in this area. Any basic startup steps in identifying when to stay put or sell? Thank you.

  13. Friends – I thought to point out some info about medical marijuana legislation in “Sweet Home Alabama.”

    I’ve heard it said and various surveys confirm that even AFTER Federal decriminalization of cannibus that the great state of AL may very well be the LAST state and location on planet earth to legalize cannibus. Well a good indicator that the “end” of caanibus prohibition may be at our doorstep is indicated by the medical marijuana bill submitted by progressive GOP state representative from North Alabama, Mike Ball.
    Mr. Ball has already crafted medical marijuana legislation covering more than 30 conditions. His Medical Marijuana bill has been co-sponsored by more than 20 other state legislators INCLUDING the GOP Speaker of the House !

  14. Friends – I thought to point out some info about medical marijuana legislation in “Sweet Home Alabama.”

    I’ve heard it said and various surveys confirm that even AFTER Federal decriminalization of cannibus that the great state of AL may very well be the LAST state and location on planet earth to legalize cannibus. Well a good indicator that the “end” of caanibus prohibition may be at our doorstep is indicated by the medical marijuana bill submitted by progressive GOP state representative from North Alabama, Mike Ball.
    Mr. Ball has already crafted medical marijuana legislation covering more than 30 conditions. His Medical Marijuana bill has been co-sponsored by more than 20 other state legislators INCLUDING the GOP Speaker of the House !

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