November elections date is Tuesday, Nov. 3, 2020. This election promises a lot of positive change in the cannabis industry. Let’s take a closer look:
According to Cannabis Business Executive (CBE), marijuana related businesses face diverse issues and challenges. Most of them should be clarified or at least resolved after the elections in November 2020, a turning point for many in the cannabis business industry.
Away from Marijuana Legalization?
For the most part, the US Congress to date has been focusing on counteracting the economic impact of the pandemic with efficient economic relief packages and doing everything to enforce them. This takes away from the concentration on matters regarding marijuana legislation. This became apparent, for example, when COVID-19 struck in New York and how cannabis legalization got pushed.
Various bills are pending in Congress. Will these be fully addressed? Many cannabis industry experts doubt it. Both Don Murphy, the director of Marijuana Policy Project (MPP) and Republican Lou Correa, for example, see very low chances for much cannabis reform this November. Yet, several marijuana-related bills that were brought to Congress in 2019 apparently could still become law this year due to the initial steps that have already been taken in this direction.
A Promising Economic Booster
Cannabis industry experts have been emphasizing how states are inciting movements towards legalizing cannabis that will increase the money flow in the national treasuries. Data conducted by BDSA, a company that conducts research-based insights on the cannabis market and focuses on economic growth, show the sales in cannabis and dispensaries were $15 billion in 2019 and are expected to double by the year 2024 with $30 billion.
November elections date is Tuesday, Nov. 3, 2020. Are you registered to vote?
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