Throughout the buildup to the mid-term elections, it appeared that Michigan was poised to become the first state in the Midwest and the 10th state nationwide to legalize recreational marijuana.
Well, it’s been well over 100 days and Gov. Phil Murphy still hasn’t managed to legalize marijuana. It was a big part of his campaign rhetoric, but it was also a big part of his budget.
Investors who have missed the boat on opportunities that have made others stinking rich in the past do not want to miss catching the first wave of legal marijuana.
The STATES Act—which stands for Strengthening the Tenth Amendment Through Entrusting States—could provide a federal solution to marijuana. Introduced by Sens. Elizabeth Warren and Cory Gardner, the potential bill would allow states to enact and regulate cannabis regulation free from federal overreach.
Vermont has officially become the ninth state to legalize marijuana for recreational use. The new law took effect over the weekend and gives residents certain rights with respect to the cannabis plant.