Recreational Marijuana News Marijuana Business News Ohio becomes 24th state to embrace Weed Legalization Posted November 8, 2023 on Politico Image There are now 24 states in the country where weed use is allowed for adults. Ohio voters comfortably approved a marijuana legalization referendum on the ballot Tuesday. The vote makes Ohio the 24th state in the U.S. to legalize adult-use marijuana and furthers a trend of more conservative states establishing legal markets. With Ohio, 53 percent of the U.S. population now live in a jurisdiction where anyone at least 21 years old can legally possess weed. More details The new law allows adults over 21 to possess up to 2.5 ounces of marijuana and grow up to six plants. The measure creates a Division of Cannabis Control, which is responsible for setting up and regulating the adult-use cannabis market. The regulations give existing medical operators first dibs on the adult-use market, but also allows licensing additional operators depending on market needs. Cannabis will be taxed at 10 percent. An Ohio State University report estimates that legal marijuana will generate about $300 million a year in revenue for the state. The background Ohio voters rejected a ballot question to legalize marijuana in 2015, in large part because the language of the amendment would have essentially handed over the industry to the campaign’s 10 wealthy donors. Because the measure is statutory and not a constitutional amendment, lawmakers can amend or even repeal it altogether. Given the strong margin of passage, advocates don’t think lawmakers will try to repeal it. But Republican Senate President Matt Huffman said before Election Day he would seek to make changes, targeting a provision that would set aside 36 percent of cannabis tax revenues for a social equity and jobs fund. The impact With a population of 11.8 million, Ohio will become the fourth largest state with a recreational market. Adult-use sales could reach $4 billion by the fourth year of legal cannabis, estimates MJBizDaily. The launch of Ohio’s market will also likely put pressure on neighboring states Pennsylvania, West Virginia, Kentucky and Indiana, since their residents will undoubtedly be crossing the border to buy weed – and contribute tax dollars – in the Buckeye State. What’s next Sales are slated to start by the end of 2024 if the measure is implemented as written. But with the Republican-dominated Legislature critical of the initiative, there could be a lengthy legislative battle over amendments. That would likely delay implementation and potentially give rise to a stubborn illicit market. For more Cannabis News like this, circle back to 420intel.com! 420 Intel News | 420 Advertising | Cannabis Business News | Medical Marijuana News | Recreational Marijuana News Region: Ohio View the discussion thread. Related posts Image Recreational Marijuana News Ohio Weed enthusiasts might want to hit the Stargazer Cannabis Festival in July Posted May 21, 2024 Image Recreational Marijuana News 47 Ohio communities - and counting - are blocking Recreational Marijuana businesses before legal sales start Posted May 15, 2024 Image Marijuana Business News Marijuana companies are spending millions in the run up to recreational sales launch Posted May 15, 2024 Image Marijuana Politics Date hinted for when Ohio recreational Marijuana sales could begin Posted May 14, 2024 Image Marijuana Politics CW Council places moratorium on Marijuana dispensaries Posted May 10, 2024 Poll Do you think cannabis should be legalized at the federal level in the United States? Choices YES NO Sign up Don't miss out! Sign up and stay up to date! View the archives. Email Address First Name
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