On January 22, 2021, Arizona became the 15th state to permit sales of recreational cannabis. The start of sales should make cannabis reform advocates around the country smile for several reasons.
Read MoreThose who follow the cannabis industry (and our blog) well know by now that federal cannabis reform is speculated about regularly, but has not seen much tangible progress to date. Industry followers also know that lack of access to traditional banking and financing remains a major handcuff on most industry participants. While some have been able to navigate these constraints better than others, there can be no reasonable debate that this issue is a prevalent hindrance on the industry.
Read MoreAs we wrote about here, cannabis had a banner night across the country on Tuesday as five states passed ballot initiatives legalizing cannabis in some fashion. Additionally in Illinois, a state that legalized recreational cannabis through legislation, voters signaled their approval of legalized cannabis in a different way. While the election results are not yet final, voters in Batavia, Elk Grove, Glen Ellyn, Mount Prospect, Park Ridge, and Wilmette appear poised to approve the sale of recreational marijuana within those cities.
Read MoreIt’s not an exaggeration to say that the only consistent thing in the past few American elections has been support for cannabis legalization. Democrats, Republicans, and independents in red, blue, and purple states all seem ready to decriminalize and legalize cannabis. 2020 was no different; voters approved cannabis legalization measures in every state offering them on the ballot.
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