New Jersey politicians couldn’t reach an agreement on cannabis legalization. However, all is not lost for the East Coast…
In February, I wrote a report about how cannabis legalization in New York and New Jersey was inching forward. New Jersey looked primed to be the next state to legalize recreational cannabis, but unfortunately, lawmakers couldn’t reach an agreement – this time
“While we are all disappointed that we did not secure enough votes to ensure legislative approval of the adult use cannabis bill today, we made substantial progress on a plan that would make significant changes in social policy,” Senate President Stephen Sweeney said in a statement.
It’s still unclear if another vote will take place later this year, or if the state will leave it up to the people to vote for recreational cannabis legalization in the 2020 elections.
Legalization was also dropped from New York’s budget bill yesterday, though Governor Andrew Cuomo still believes “we’ll pass it this year.”
Is this all disappointing? Yes.
Will this derail the cannabis industry? Absolutely not. In fact, even those with former anti-marijuana views like John Boehner are going all in on cannabis.
So even though legalization in one state may have faced a setback, the bigger story to follow is the legalization efforts around the U.S., starting with the East Coast.
I wanted to make sure you saw all the progress happening that doesn’t receive a lot of attention, because full legalization will have a major impact on our portfolios…
Cannabis Reform Is Spreading Through the East Coast
We’ve talked a lot about legalization recently, and I’m going to have a full report about California and its new and improving marijuana framework in the next issue of the Cannabis Insider’s Report.
And now, I’d like to share some more legalization efforts around the U.S. you may not have heard about.
Connecticut: The Nutmeg State
There are several cannabis-related bills under consideration in Connecticut, one of which would create the Cannabis Control Commission. The commission would issue licenses and study whether consumers should be able to grow their own cannabis plants.
Delaware: The Small Wonder
In Delaware, lawmakers are reviewing Senate Bill 24, which would allow patients to obtain a medical cannabis identification card if cannabis can provide a therapeutic benefit.
Currently, a card can only be received through a qualifying condition like cancer, HIV, or epilepsy.
Georgia: The Peach State
Georgia’s marijuana laws are very restrictive, and that unfortunately hurts patients who need access to cannabis-based medicine. For example, patients can only possess up to 20 ounces of cannabis oil to treat severe forms of specific illnesses.
We took a closer look at the cannabis industry’s most well established companies – and here’s what we actually found. According to our research, the most promising pot stocks on the market are trading for just a couple of bucks each… but they could mint you 10 times your money. Click here to learn more about these under-the-radar stocks today.
Even worse than that, it’s been nearly impossible for even those limited patients to obtain this oil, as they couldn’t grow, buy, or transport cannabis. That essentially made having a medical marijuana card in Georgia useless.
Thankfully, the Georgia House approved a bill on March 5 that will allow 60 dispensaries to serve the state’s 8,400 medical marijuana patients.
Maryland: The Old Line State
It’s been quiet on the Maryland marijuana legalization front lately, but CVS stores in the state are going to sell CBD products.
And even without adult-use legalization, a more relaxed medical-cannabis environment allows even more patients to get the medicine they need.
There is also some progress for cannabis reform in Baltimore.
Back in January, Baltimore City’s State Attorney Marilyn Mosby said that her office will stop prosecuting cannabis possession, regardless of the quantity or the arrestee’s criminal history.
North Carolina: The Tar Heel State
North Carolina is still one of the most restrictive states out there when it comes to cannabis legalization. Most medical use is still illegal.
However, the state has a very robust hemp farming industry, and I’ll release a special report about that down the road. North Carolina had 634 licensed farmers growing hemp on about 8,000 acres and 3.4 million square feet of greenhouse space in 2018.
South Carolina: The Palmetto State
Use of low-THC CBD oil is allowed for certain medical conditions in South Carolina, but just like in North Carolina, the rules are very strict.
But there’s good news – on March 21, South Carolina lawmakers approved a marijuana bill known as the Compassionate Care Act. The bill is now moving forward to the full Senate Medical Affairs panel for discussion and possible vote.
As you can see, cannabis reform can move slowly.
But even in states not known for progressive cannabis laws, we are starting to see the tide turn.
Thanks for being an integral part of the National Institute for Cannabis Investors,
Executive Director, National Institute for Cannabis Investors
P.S. The potential to make fast money from cannabis IPOs is off the charts. And over just the next month and a half, we could see dozens of small firms go public. That’s why we’ve identified the group of under-the-radar stocks with the power to double your investment in just a matter of hours. Click here for details.
11 responses to “The Show Goes on Even if New Jersey Didn’t Legalize Cannabis Yesterday”
March 26 2019