Voters in Maryland voted to legalize recreational cannabis use Tuesday, becoming the 20th state to make the move. Maryland was the state most likely to green-light cannabis for adult use Tuesday, as 70% of voters have signaled support in polls.
Voters in Maryland voted to legalize recreational cannabis use Tuesday, becoming the 20th state to make the move. Four more states could have joined it Tuesday, but legalization was rejected in at least two states.
The adult-use cannabis market in Maryland alone is estimated to be worth at least $1 billion. If cannabis sales to adults are legalized in Maryland, Missouri, Arkansas and North Dakota, the market in those states could be worth more than $2.8 billion by 2026, according to estimates from MJBizDaily. “We have our fingers crossed,” Whiteman said. “It would be huge for us, and for the communities and citizens of those states, if those states approve it.”Medical cannabis is already legal in all five states with measures up for a vote on Tuesday. Maryland’s program dates to 2013, while Arkansas and North Dakota legalized medical cannabis in 2016, Missouri in 2018 and South Dakota in 2020. That means some marijuana companies already have footholds in those markets.
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