The Expectations Of The Legal Cannabis Market After Elections

After the marijuana elections 2016.

MAINE: In California, Massachusetts, Nevada and Maine, voters decided that recreational cannabis use is now legal. Now as for Arizona, it was the only state that rejected the proposal. Making it four of the five states, where the proposal of legalization of cannabis for recreational use were approved. Companies in this sector profiting from the growing demand, views this as a highly positive development for the legal cannabis industry, as it may bring billions of dollars to the industry and to the states themselves.

District of Columbia, along with other 8 states now recognizes recreational marijuana use as a legal practice for adults. Arkansas, Florida, Montana and North Dakota assed ballot measures legalizing medical marijuana use only.  California is of course the most populated state and the largest market for cannabis. California Lt. Gov. and former San Francisco Mayor Gavin Newsom, said the proposition could generate up to $1 billion a year in tax revenue, as well as $100 million in saved taxpayer money on an annual basis.

Read full article @ PRNewswire

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