Results for: Legalization

A recent poll reveals that 64% of Florida voters favor legalizing recreational marijuana, indicating strong support for Amendment 3 on the November 2024 ballot. The measure, which would legalize cannabis for adults over 21, enjoys broad demographic support across age, gender, race, and region. This support is reflected in the significant financial backing for the pro-legalization campaign, which has raised over $71 million compared to the $14.5 million raised by opposition groups. If passed, the amendment is projected to generate millions in tax revenue for the state.

Vice President Kamala Harris’ pro-cannabis stance, endorsed by Hollywood celebrities like Ben Stiller and George Clooney, has garnered mixed reactions. While some celebrate her commitment to change, others question her past actions. The cannabis industry, however, sees her as a champion for legalization, praising her support for rescheduling marijuana and pardoning low-level offenders.

The Czech Republic is grappling with cannabis legislation, with the governing coalition supporting medical marijuana expansion but showing hesitation towards full recreational legalization. While a draft bill proposing a regulated market similar to Canada and some US states exists, its future remains uncertain. The bill faces internal review and potential revisions before reaching the European Commission, highlighting the complexity of the process.

Grammy-nominated rapper Afroman, known for his hit song “Because I Got High”, took to social media to celebrate the legalization of recreational marijuana in Ohio. In a video, he raised a toast to his fellow Ohioans, claiming credit for getting weed legal in the state. He also announced his intention to fight for freedom of speech and even hinted at a presidential run.

With the 2024 election potentially featuring the first pro-cannabis legalization presidential ticket in U.S. history, industry experts are optimistic about potential advancements in federal cannabis policy. While acknowledging legislative challenges, experts highlight the potential for executive actions and bipartisan support to push cannabis reform forward.

Berlin’s Marzahn-Hellersdorf district has approved the Green Leaf Society’s application to cultivate cannabis, marking a significant step in Germany’s cannabis legalization process. While the regulations are still in development, the district’s approval highlights the growing acceptance of cannabis clubs and the potential for a thriving cannabis industry in Germany. Meanwhile, Lower Saxony is preparing a catalog of fines for violations of the cannabis laws, emphasizing the need for responsible consumption and raising concerns about the potential for underage use.

The upcoming presidential election could be a pivotal moment for the cannabis industry, with the Harris-Walz ticket openly supporting legalization and federal rescheduling. This potential shift in federal policy could lead to increased investment and a dramatic reshaping of the industry.

New York’s legal cannabis industry has surpassed $500 million in sales within a year of opening its first dispensary. This rapid growth is attributed to a crackdown on unlicensed sellers, known as Operation Padlock, which has effectively driven consumers towards legal outlets. The state anticipates continued growth and substantial tax revenue from the legal cannabis market.

Thailand and Pakistan are both making strides in their respective cannabis industries. Thailand is facing an oversupply, leading to price drops, while growers are adopting new techniques to meet international standards. Meanwhile, Pakistan is exploring the economic potential of cannabis and establishing a regulatory body to oversee its cultivation and sale.

Planet 13 Holdings (PLNH) is poised for significant growth in the Florida cannabis market, with analysts projecting a potential doubling of its share price as recreational legalization nears. The company’s acquisition of VidaCann and expansion plans, coupled with Florida’s burgeoning cannabis industry, present a compelling investment opportunity.