Lightning Speed of Changes in the Recreational Cannabis Market
Enthusiasts everywhere are going to benefit in time.
By My 420 Network Staff
Times are changing, and the speed of these future events in the recreational legal cannabis business increase by the day. Legalization of recreational cannabis use by adults will happen in every state regardless of what the “Feds” do in the future.
Certainly, Federal Decriminalization needs to occur, but with this “political hot potato,” even President Biden’s controversial statements and actions with eliminating some staff due to prior cannabis use does send a bit of a confusing message to the public and Congress. But that’s politics. We have to wait and see.
It is great to see New Mexico come on board. But in reality, the “Western” states have been the leader in passing recreational cannabis laws and at the forefront of the industry’s growth. Colorado and California are the leaders but do not forget about Nevada. Las Vegas and its tourism boom will be huge, specifically with recreational cannabis smoking lounges.
Not to be outdone, the Denver City Council just approved legal adult cannabis smoking lounges as well, and this will significantly assist the tourism business with the ability of “guests” to the state being able to easily partake of everything Colorado has to offer. A significant change, but frankly, this one happened much more rapidly than anticipated.
We have seen New York and New Jersey recently fall as well. But even more, rapid changes are coming. Pennsylvania is now at the forefront of being a legal recreational cannabis state as well. In fact, in some project, Pennsylvania may be the 3rd largest state cannabis market in the country behind California and Colorado. That is a significant change, and it happened fast. If it is suitable for most of the other North-Eastern states, then Pennsylvania finally determines they should “share” in the wealth too.
Everyone Everywhere is Going to Live in a Legal Recreational Cannabis State
However, some rapid changes are underway in other state markets as well. Several states in the South finally make a “push” for legalization. Virginia was the leader and recently has passed laws for recreational cannabis. However, now North Carolina is considering the cannabis legalization issue with House Bill 617. Texas may be an interesting state in the near future too. With some support from both sides of the aisle, a State Legislature has just introduced a bill for consideration. Plus, there is a small push for legalization in Alabama based more on rumors than fact. But really, Alabama too?
Florida has some support in the State Legislature and would be a massive market to join the ranks of the “enlightened.” The issue with Florida passing the law to legalize cannabis faces one big challenge right now: Governor Ron DeSantis. He is holding to the “right side” of the aisle a bit and certainly may make a run for the White House in 2024. However, he has to decide soon if he will run for re-election as Governor of Florida before the 2022 election, so it will be interesting what happens in the “Sunshine” state. If a Democrat Governor is elected in 2022, Florida’s odds of recreational cannabis laws will change rapidly. Yes, politics again.
Times change, but this “speed of light” is head-turning. More Western states falling, great options for “smoking lounges” in many markets, the Northeast is coming on board quickly, and now several large southern states are considering “greener pastures” for the future as well.
The bottom line, the legal adult recreational cannabis market is going to “boom” even more. The key will be the changes within the cannabis industry that will inevitably occur due to the lightning pace of statehood legalization across the nation regardless of what happens with Federal Decriminalization issues. Legal Recreational cannabis use is here to stay, even if it has to happen state by state.
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