Wednesday, November 9, 2022
The approval of marijuana legalization in the two biggest states considering ballot initiatives this election cycle — Maryland and Missouri — means that a lot more people voted for than against legalization this Fall. But reform opponents are surely pleased that voters in three other states — Arkansas, North Dakota and South Dakota — rejected legalization initiatives. This MJBizDaily piece, headlined "US marijuana industry wins in Maryland and likely Missouri but suffers losses elsewhere," reviews the details and starts this way:
Marijuana legalization’s yearslong winning streak finally stopped at a red wall in conservative states in the South and West on Tuesday, but the 2022 election still brought a solid win in Maryland – and legalization advocates declared victory in Missouri early Wednesday, too. Together, the two states could lead to nearly $2 billion in adult-use sales within a few years of their launch.
Voters in Maryland approved the 20th adult-use market, one that is projected to generate as much as $600 million in its first year and up to $1 billion by year four.
Recreational marijuana legalization in Missouri was too close to call for most of election night, but with yes votes ahead by about 6 percentage points with more than 90% of the votes counted, both the statewide campaign and national advocacy groups claimed victory. First-year sales of an adult-use marijuana market in Missouri could reach up to $550 million, according to MJBizDaily estimates, with fourth-year sales projected to be $800 million-$900 million.