MI voters legalize recreational marijuana

MI voters legalize recreational marijuana

Missouri voters approved one of the medical cannabis measures on the ballot. And they can give away (without payment) up to 2.5 ounces to a person over 21 as long as it's not advertised or promoted to the public.

Benzinga, which recently brought 600 investors to Toronto for the first-ever Cannabis Capital Conference, is hosting the Michigan Cannabis Business Roundtable at its Detroit headquarters Friday, Nov. 9.

Marijuana is illegal under federal law, though the Obama administration advised prosecutors against pursuing related cases in states that have passed legislation permitting the plant for medical or recreational purposes.

Exchange-traded funds that track marijuana stocks, including the Horizons Marijuana Life Sciences Index ETF in Toronto and the USA -listed ETFMG Alternative Harvest ETF, jumped to fresh highs on the news, gaining 7 per cent and 6.2 per cent respectively. The proposition bans smoking pot, however; instead patients can consume edibles, vape and use other means of consumption.

Under the measure, it will be regulated like alcohol and only be allowed to be used by people in the privacy of their own homes. The proposal passed by a 56-44 percent margin with 93 percent of precincts reporting.

Voters in 37 states considered an array of intriguing ballot measures. Both questions were non-binding, and both failed.

Nationwide, 66 percent of Americans now support the legalization of marijuana according to a recent poll from Gallup. Amendment 2 sets a marijuana tax of 4 percent, but doctors are allowed to recommend marijuana for any condition they see fit.

MI is one of only two states, the other being Alaska, where households are allowed to grow 12 marijuana plants.

Shares of cannabis stocks pared earlier gains after surging in early trading Wednesday, as three US states voted to loosen the use of recreational and medicinal marijuana amid growing optimism the country will soon pass measures to federally legalize pot.

In Missouri, voters will be asked to chose between three separate proposals legalizing medical marijuana to varying degrees.

"Thanks to the unflagging efforts of patients and advocates, Missourians who could benefit from medical marijuana will soon be able to use it without fear of being treated like criminals", said Matthew Schweich, deputy director of the pro-legalization Marijuana Policy Project. Voters in a number of Wisconsin localities, including the population centers of Madison and Milwaukee, overwhelmingly approved non-binding referenda calling for marijuana legalization, while voters approved decriminalization in five out of six OH cities where it was on the ballot, including Dayton.

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