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.

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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,

Greg Miller
Executive Director, National Institute for Cannabis Investors

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Comments

12 responses to “The Show Goes on Even if New Jersey Didn’t Legalize Cannabis Yesterday”

  1. We are crushed about the Democratic leadership that could not convince an all blue assembly and senate to help the people. Politicians failed to execute the will, want, and need of patients statewide. For me, the saddest part is that the people of New Jersey who are suffering with their health, are being yet deprived again for optimal health, wellness, and healing. People are dying of cancer, aids, and suffering from many debilitating diseaes mankind does it best to deprive them from possibly living or having solid quality of life. 6 medical licenses in New Jersey isn’t going to help all the people who need the cannabis medications. Because a new assembly and senate is due to be sworn in January 2020, everything will have to start new again in New Jersey. We are done with these politicians unfulfilled promises and anything hoped for in New Jersey the rest of this year. They have promised to revisit this matter later this year, but that is a total joke, and the same politicians who voted no will highly likely no longer be there in 2020 as this decision they made saying no, will effectively cost them their jobs.

    • I trade on Robinhood. They are primarily Canadian stock exchange (CSE). I live in the US.
      I also see that Over The Counter (OTC) stocks have different ticker symbols than CSE. They are all the same. The price is always the same. So with my limited day trading experience I would say it would not matter. You can do one or the other or both.

  2. These New Jersey and New York politicians are in bed with Big Pharma, Big Alcohol, and Big Tobacco. They will attempt to delay this as long as they can, coming up with a myriad of excuses. There needs to be a voter referendum, and not up to politicians. We know what there motives are.

    • You my friend have hit the nail right on the head. Big Pharma has big power and lots of cash. That is why they are best friends with our crooked government. However all of the above disciplines are getting into the cannabis industry. They would be stupid not to. I invest in company’s that are pharmacy, alcohol and tobacco, but only if they are investing in a major company cannabis company like Canopy (CGC), Aurora (ACB), Cronos group (CRON) etc…

  3. Is the failure to legalize in NJ the reason for the overall collapse of cannabis shares yesterday and today?

  4. I haven’t given up on New York as Gov. Cuomo said it can still pass this year. So the jury is still out.

  5. I haven’t traded before. Can I trade for free? What company should I use that doesn’t charge a fee or only charges a small fee? What is the best way to get started?

  6. It is EASY to get discouraged when you buy a Pot stock that you read about here, & find out a few days later the stock has dropped, maybe even 25%. But one must have PATIENCE, realize that America’s HUNGER (and many other countries) for Pot is growing steadily. After the elections of 2020, several more States will be open for recreational Pot, & more needless regulations will be lifted.

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