MI becomes first state in Midwest to legalize recreational marijuana

Marijuana legalization on the ballot in four states

Michigan Voters Legalize Marijuana

"Marijuana has now been legalized for adult use in one out of every five states, so I think it's safe to say federal laws are in need of an update".

United States demand for cannabis is strong, according to Cowen analyst Vivien Azer.

The ballot measure approved Tuesday will allow people age 21 or older to buy, grow and use the drug. It may take another year for the state issues licenses for businesses to sell marijuana. The total legal U.S. market is expected to hit about US$11b in sales in 2018.

"Michigan can act as an anchor", he said.

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Opponents say legalizing marijuana would lead to increased use by children, drug abuse and auto crashes.

The Wine and Spirits Wholesalers of America, a trade group that represents more than 80 per cent of all wines and spirits sold in the USA, voiced support for legal cannabis in July. In the U.S., meanwhile, the steady creep of legalization has companies buying up licenses and expanding operations.

Recreational marijuana is now legal in some form in Alaska, California, Colorado, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, Washington, and Washington, D.C. Additionally, 30 states offer some form of medical cannabis.

Canada, Michigan's neighbor to the north, legalized marijuana sales for adults in mid-October, which added pressured for Michigan to pass recreational use, too.

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Adding two more states with medicinal marijuana would mean nearly 70 per cent of Americans could have access to the drug for that objective. Residents of Missouri will decide between three competing measures to legalize medicinal pot. And research from Washington State University found that police in Washington and Colorado are solving crimes faster than their peers in states without marijuana legalization.

In the USA, cannabis remains illegal under federal law. Most of those states listed above allow only six plants per household.

Democrats took control of the House and Republicans maintained their grip on the Senate, but another victor of the 2018 USA midterm elections is the cannabis industry. Democrats in the House may hold hearings on marijuana and pursue legislation that would ease banking restrictions or even end federal prohibition. I was on a drug policy panel with Rohrabacher last week at Reason's 50th anniversary celebration, and he seemed confident that President Trump, who has repeatedly said states should be free to set their own marijuana policies, is prepared to sign that bill or something similar.

"You go to roadshows to some of these cannabis companies and their new executives are coming from impressive places", he said.

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