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Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 491: Marijuana Wins Big in US Election

 

Delta, Kelowna, BC - November 4, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.

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https://www.investorideas.com/Audio/Podcasts/2020/110420-StocksToWatch.mp3

Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 491: Marijuana Wins Big in US Election

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Today's podcast overview/transcript:

Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.

In today's podcast we will be looking at the many states that voted in favour of cannabis legalization in yesterday's election.

New Jersey voters have approved a constitutional ballot initiative to legalize marijuana for adults 21 and over and establish a framework for marijuana regulation in the Garden State. New Jersey becomes the 12th state to enact a legalization law.

"This is a great day for New Jersey. After years of political inaction, voters have definitively approved marijuana legalization," said Steve Hawkins, executive director of the Marijuana Policy Project, which was founded in 1995 and has played a central role in 10 state-level legalization victories over the past eight years.

"The passage of this ballot measure positions New Jersey to take the lead in the Northeast and will push neighboring states, like New York and Pennsylvania, to take action on marijuana legalization," Hawkins added. "This is a victory for social justice given that Black residents of New Jersey are 3.5 times more likely to be arrested for marijuana than white residents despite similar usage rates."

New Jersey is one of five states that voted on marijuana reform ballot initiatives this November. In Arizona, New Jersey, and Montana, there were ballot initiatives to legalize marijuana for adults 21 and over which were all passed.

Chief Executive Officer Steve White of Harvest Health and Recreation Inc. (CSE: HARV) commented, "The recreational initiative in Arizona represents a well-rounded approach to allow the expansion of access to cannabis in Arizona. We fully expect the implementation of Prop 207 will positively impact tax revenue and social justice in Arizona, while strengthening employer protections and enhancing public safety. As the largest operator of medical dispensaries in the state, we look forward to serving recreational customers under this new program."

White continued, "The legalization of recreational cannabis continues to gain public support and becomes more mainstream as more people are positively affected directly themselves or know others who benefit from the availability of regulated and legal cannabis. We are proud to have played a role in the advancement of legal cannabis in our home state of Arizona. We appreciate the support of state, local and community officials and the ongoing efforts by the Arizona Department of Health Services to make our medical and recreational markets a model for other markets across the country."

In Mississippi voters have approved a constitutional ballot initiative to establish a medical marijuana program for patients with debilitating conditions. Mississippi becomes the 36th state to enact a medical marijuana law.

"It is great to see that the tides of change are continuing to flow across the country and now they have come to Mississippi," said Steve Hawkins, executive director of the Marijuana Policy Project, which was founded in 1995 and has played a central role in eight state-level legalization victories over the past eight years. "As we saw in Utah in 2018, and as we see in Mississippi this year, medical marijuana can pass in any state in the country."

In South Dakota voters approved proposals to legalize both medical and recreational marijuana, a major shift after the state overwhelmingly rejected a medical pot measure four years ago.

And in Oregon, voters made history by passing the first state law in the US to decriminalize possession of hard drugs including heroin, cocaine and LSD. The measure backed by criminal justice reform groups is aimed at diverting people from jails and prisons by treating possession as a citation and expanding access to treatment and recovery.

The Oregon drug initiative will allow people arrested with small amounts of hard drugs to avoid going to trial, and possible jail time, by paying a $100 fine and attending an addiction recovery program. The treatment centers will be funded by revenues from legalized marijuana, which was approved in Oregon several years ago.

"Today's victory is a landmark declaration that the time has come to stop criminalizing people for drug use," said Kassandra Frederique, the executive director of the Drug Policy Alliance, which backed the measure.

Oregon voters also approved a measure making it the first state to legalize the therapeutic use of psychedelic mushrooms.

Heading into Election Day, 11 states had legalized marijuana for adults 21 and over, and 34 states had legalized medical marijuana.

Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood, Acorn, Stash and others.

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