With an unprecedented turnout for this years’ presidential election, voters have exercised their right to vote on marijuana legalization in five States, paving the way for recreational and medicinal cannabis sales and a new market worth a potential $2.5 billion.
New Jersey, Arizona, Montana and South Dakota today became the 12th, 13th, 14th and 15th States to legalize recreational cannabis. Mississippi also joined the growing list of States, after approving cannabis for medicinal use.
New Jersey saw an overwhelming 66.8% of the ballot in favor, projecting Public Question 1 to formally legalize recreational cannabis for persons over 21 years of age.
The Arizona vote reported a 59.8% Yes to Proposition 207, suggesting legalization for persons over 21 years of age, and expungement of previous offenses.
Initiative 190 in Montana, at 100% of the vote counted, saw 56.9% in favor of legalization, which would result in legislation similar to the Arizona model.
South Dakota ran two separate ballots, firstly Measure 26 which legalizes medical use of marijuana, attracting a resounding 69.9% of the vote in favor. A second ballot, Amendment A, attracted 54.2% of the vote in favor of legalization and taxation of recreational marijuana.
The State of Mississippi approached the ballot with the intention of asking if medical marijuana should be ‘allowed’, and proposing two initiatives, giving voters the opportunity to choose.
67.8% of the vote ruled in favor of allowing medicinal marijuana.
The vote in respect of which Initiative should be used ran 74% to 26% in favor of ‘Initiative 65’. Initiative 65 would allow an amendment to the Mississippi Constitution, paving the way for the MS Depart of Health to regulate a program allowing qualified medical patients’ to use medical marijuana.
*figures accurate as of Nov 5 4:30pm ET
Bold Maker Molds
Here at Bold Maker, we actively monitor regulation and legislation to instill confidence in compliance of our products. Although compliance ultimately lies with the customer, Bold Maker is here for you every step of the way to mitigate the red tape associated with regulation.
We will be actively monitoring each State as the Law takes hold, and a regulatory framework is established.
If you are looking to break into new lucrative markets, be sure to choose a company that is top of the manufacturing chain. Our molds are FDA compliant for food safety purposes, and we have a proven track record in continuing to be the go-to for some of the biggest companies in North America.
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