The Epic Cannabis Election of 2020
This election year, we’re on track for high voter turnout…and, most likely, a turnout of high voters.
November 2020 will be remembered as one of the most historically significant election cycles in American history. The White House, Congress and several governorships are at stake, of course. But it’s also a momentous election for marijuana and even psychedelics.
According to the marijuana market research firm New Frontier Data:
“The 2020 election could be one of the most consequential and historical events to change the landscape of the legal U.S cannabis industry.”
National and state public opinion polls show widespread and enthusiastic support for cannabis and psychedelics measures this year.
What’s it all mean for investors? After the voting, we’ll see not only a transformed political backdrop but more opportunities to profit from the marijuana industry.
Now’s the time to selectively increase your exposure to pot-themed investments. Below, I steer you in the right direction. But first, let’s survey the November voting landscape from coast-to-coast. The coronavirus pandemic has cast attention on mail-in and early in-person voting; here are key dates and deadlines. In some places, the voting already has started.
On the ballot: An initiative to legalize marijuana for adult use. Under the measure, adults could possess up to an ounce of marijuana at a time and cultivate up to six plants for personal use. Early voting starts October 7; mail-in ballots are sent out October 7-10; the voter registration deadline is October 5.
On the ballot: Two measures to legalize medical cannabis. But the situation is complicated. After the activist-led initiative qualified for the ballot, the legislature approved an alternative proposal that will appear with it. Advocates say this was a deliberate attempt by anti-marijuana forces to confuse people, split the vote and torpedo a state-wide medical marijuana system.
Mississippi doesn’t provide for early in-person voting. Mail-in ballots were sent out September 24; the voter registration deadline is October 5.
On the ballot: a statutory measure to legalize marijuana for adult use and a separate constitutional amendment stating that only those 21 and older could access the market. If approved by voters, adults would be able to possess up to an ounce of cannabis and cultivate up to four plants and four seedlings at home.
In-person early voting starts October 5 (in select counties); mail-in ballots are sent out October 9; the voter registration deadline is November 3.
On the ballot: A referendum to legalize recreational cannabis. When the legislature failed to pass a legalization bill, lawmakers instead chose to put the matter before voters. If the measure is approved on election day, lawmakers will then have to pass implementing legislation with details for how the legal cannabis market will function.
In-person early voting started September 19 (in select counties); mail-in ballots were sent out September 19; the voter registration deadline is October 13.
On the ballot: Four local initiatives to decriminalize marijuana possession. Voters in Adena, Glouster, Jacksonville and Trimble will each see the reform measures on their ballots. If approved, they’ll join 18 other Ohio municipalities that have already enacted measures to lower penalties for misdemeanor cannabis possession.
In-person early voting starts October 6; mail-in ballots are sent out October 6; the voter registration deadline is October 5.
On the ballot: A measure to legalize psilocybin fungi (aka “magic mushrooms”) for therapeutic purposes and a separate initiative to decriminalize possession of all illicit drugs while investing in substance abuse treatment.
Under the mushroom measure, adults would be able to access the psychedelic in a medically supervised environment.
The decriminalization initiative would remove criminal penalties for low-level drug possession. It would also use existing tax revenue from marijuana sales, which voters legalized in 2014, to fund expanded substance abuse treatment.
Oregon does not provide for early in-person voting; mail-in ballots are sent out October 14; the voter registration deadline is October 13.
On the ballot: A proposal to legalize marijuana for adult use and a separate measure to legalize medical cannabis. If approved by voters, the constitutional adult-use amendment would allow people 21 and older to possess and distribute up to one ounce of marijuana, and they also would be allowed to cultivate up to three plants.
The statutory medical cannabis measure would allow patients suffering from debilitating medical conditions to possess and purchase up to three ounces of marijuana from a licensed dispensary.
In-person early voting started September 18; mail-in ballots were sent out September 18; the voter registration deadline is October 19.
On the ballot: an initiative to decriminalize a wide range of psychedelics such as psilocybin, ayahuasca and ibogaine. It would make enforcement of laws against entheogenic substances among the lowest local law enforcement priorities in the nation’s capital city.
In-person early voting starts October 27; it remains unclear when mail-in ballots will be sent out; the voter registration deadline is November 3.
According to a new report released last week by New Frontier Data, the state ballot measures in Arizona, Mississippi, Montana, New Jersey, and South Dakota could galvanize an additional $9 billion a year in cumulative revenue in the nation’s legal cannabis market if all are approved by voters this November.
As the above voter initiatives show, the mainstreaming of marijuana is a trend that can’t be stopped. After painstaking research, we’ve pinpointed cannabis investments with the greatest profit potential. Click here for our report on the best pot stocks.
John Persinos is the editor-in-chief of Marijuana Investing Daily.