Cannabis On The Ballot In Multiple States Next Week
October 29, 2024Voters in states across the U.S. will be casting ballots on cannabis reform next week, with referendums placing legalization or decriminalization on the ballot in states like Florida and South Dakota, as well as cities like Dallas. With both major presidential candidates pledging to support decriminalization or legalization in office, the U.S. could be closer than ever to a federal legalization. But in the meantime, the handful of ballot initiatives could allow more states to kick off their own cannabis markets.
Florida’s legalization initiative, Amendment 3, has created a firestorm in the Sunshine State, with groups both in favor of legalization and opposed emptying their coffers in the lead-up to the election. The latest polling, from the University of North Florida’s Public Opinion Research Lab, shows roughly 66% of those polled supporting Amendment 3. If the polls hold, that would pass the measure, which needs a 60% or greater majority to become law. The poll surveyed 977 likely Florida voters, with 30% indicating that they would vote against Amendment 3 and 4% unsure.
If passed, the Florida measure would go into effect six months after election day and legalize possession of up to three ounces of cannabis flower and five grams of cannabis concentrate. It would also allow the state’s medical marijuana facilities to shift to the retail market and give the state legislature the discretion to issue new adult-use licenses.
Florida has been estimated at a $5-$6-billion market in the first year of adult-use sales. Billion-dollar multistate player Trulieve is the market leader in Florida’s booming medical category, and has been the main backer of the ballot initiative, contributing upwards of $140 million to the Smart & Safe Florida political committee. Curaleaf, Ayr Cannabis, MuV, and Surterra are also among the leading companies in the state.
Voters in North Dakota will also decide whether to embrace adult-use cannabis next month. The state’s legalization measure would allow consumers to grow up to three plants for personal consumption as well as create the framework for a state-licensed retail program. If passed, the measure would go into effect in October 2025 at the earliest.
In South Dakota, Initiated Measure 29 is less ambitious, seeking to legalize possession and free distribution of cannabis. While creating a full adult-use market would require further legislation, the ballot measure would remove misdemeanor penalties for possession of cannabis and felony penalties for possession of edibles or concentrates. Unlike Florida, South Dakota’s ballot initiative is on shakier ground, with recent polling from South Dakota News Watch and the University of South Dakota’s Chiesman Center for Democracy showing that just over half of voters opposed legalization.
In Arkansas, the challenges are coming from the courts, with the state’s Supreme Court instructing election officials to ignore votes in favor of the Arkansas Medical Marijuana Amendment of 2024. The court says the name of the initiative is misleading because its scope expands beyond the parameters of the state’s medical market.
In Texas, voters in Dallas, Lockhart, and Bastrop are set to vote on decriminalization at the local level. Dallas, the largest of the three cities by far, has a population 1.3 million people. The Dallas measure would decriminalize possession of up to four ounces of cannabis. In addition, the Dallas measure would prevent police officers from using the smell of cannabis or hemp when justifying searches and seizures. While cannabis reform is moving slowly in Texas, the state already has a booming hemp THC drinks category, with top retailers like Spec’s and Total Wine active in the segment.—Shane English
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