The mainstreaming of marijuana is about to get a huge boost, whether prohibitionist politicians are ready for it or not.

Many states are set for putting recreational marijuana on the ballot for 2018.

Next year, without a doubt, will be a huge year for legal weed. And not even President Donald Trump has the power to stop the progress of legalization.

And no amount of threats from Attorney General Jeff Sessions will obscure our states’ successes at legalizing weed, at least not anymore.

Our federalist system, built on the idea that local governments may act as experimental laboratories of democracy, is working out quite well in this case.

We showed the world that legal pot is able to succeed. And now, some five years later, our country is on the fast track to blazing a new path to commonsense cannabis laws.

States Pushing for Legalization in 2018

Sure, it’s the pun of all puns, but the marijuana industry really is growing like a weed.

According to the cannabis research firm Arcview, the North American legal cannabis market saw a sales increase of 34% in 2016 to $6.9 billion, and it’s liable to grow by an average of 26% per year through 2021.

That’s a nearly $22 billion market up for grabs, and investors certainly want a piece of the pie.

Even though Mexico legalized medical cannabis in June and Canada is on the verge of green-lighting recreational weed by July 2018, it’s still the U.S. market that’s viewed as the greatest opportunity for the legal cannabis industry.

Since 1996, 29 states have legalized medical marijuana, with an additional eight states since 2012 having legalized recreational pot.

With recreational weed the greatest source of growth potential for the legal marijuana industry, all eyes are on the states that could be the next one to legalize for recreational use.

As we look toward the 2018 midterm elections, the following states already have one or more initiatives or amendments lined up for legalizing marijuana for adult use.

The big question is whether or not these pieces of legislation will actually be included on the ballots…

Arizona

Of all the states considering legalizing recreational cannabis in 2018, Arizona’s initiative appears to be the most logical. The state put a recreational weed measure on the November 2016 ballot, only to see it fail by a mere 2%.

We’ve seen the most pot-progressive states, like Oregon and California, fail to pass recreational marijuana initiatives on their first tries, but targeted efforts by pro-legalization groups may be able to sway voters this go-round.

An aggressive piece of legislation called the Arizona Marijuana Legalization Initiative is aiming to allow for the possession and use of weed by adults 21 years and older. And it would allow the cultivation of up to 48 plants with THC levels of 0.3% or more.

It would also forbid local jurisdictions from passing laws that prevent legal weed businesses from operating.

It’s still unclear whether this initiative has a chance of passing or not, but it’s without a doubt the most progressive initiative the country has seen yet.

Florida

It took Florida two tries to successfully pass a medical marijuana amendment in November 2016.

In Florida, passing any marijuana legislation requires changes to the state’s constitution. So, a simple majority vote isn’t going to cut it. Instead, a majority vote of at least 60% is required for passing any amendments.

Just like Arizona, Florida’s November 2014 medical cannabis amendment fell 2% short of the required vote. However, with pro-legalization groups increasing their efforts in 2015 and 2016, the amendment eventually passed with flying colors (71% to 29%).

Now, the pro-legalization groups are channeling their efforts into garnering support for recreational legislation. And there are currently four measures being considered for the November 2018 ballot.

The Florida Cannabis Act would legalize possession of up to 1 oz. of marijuana for adults 21 and up, and it would also allow residents to grow up to six plants per household.

Should the act pass, these plants would also need to be in an enclosed and secure space to keep them out of reach from children and adolescents.

Michigan

With time and money pouring into the state in 2017, there’s a reasonable chance that a recreational initiative will make the ballot for the upcoming year.

The Michigan Marijuana Legalization Initiative would allow adults 21 and over to possess, use, and transport up to 2.5 oz. of marijuana (or 15 gm. of concentrate) and grow up to 12 cannabis plants in their residences for personal use.

The initiative would also give the green light to industrial hemp, which on its own could become a multibillion-dollar industry.

If passed, consumers could be facing a 10% excise tax on top of the state’s existing 6% sales tax.

The collected tax revenue would be primarily allocated to schools and state transportation for the repair and maintenance of roads and bridges.

Missouri

The state of Missouri is aiming to do something that Ohio attempted in 2015 but failed miserably at: Legalizing medical and recreational marijuana at the same time.

Currently, it’s one of only 21 states that has yet to legalize marijuana for medical purposes. And while there are a handful of medical cannabis initiatives that are vying for a spot on the upcoming ballot, half pertain to recreational weed and industrial hemp.

The Missouri Marijuana Legalization Initiative aims to remove marijuana from the state’s list of controlled substances, allow for its sale to medical and recreational users, and also immediately release prisoners who have been incarcerated for nonviolent marijuana-related crimes.

It would also forbid the state from using funds to enforce federal marijuana laws — since it’s still classified as a Schedule 1 substance at the federal level.

Missouri is taking on a really big challenge by trying to pass medical and recreational marijuana use at the same time. But, perhaps, it will see a better outcome than Ohio.

Nebraska

On a similar note, Nebraska may also be thinking about a dual-legalization effort. Nebraska, along with Missouri, has yet to legalize medical cannabis.

In fact, Nebraska and Oklahoma actually sued the state of Colorado, based on allegations that recreational Colorado week would be trafficked into its neighboring states. This suit, which the Supreme Court denied in 2016, makes the idea of Nebraska’s dual-legalization efforts a complete head-scratcher.

Nonetheless, there’s at least a slim chance that the Nebraska Right to Cannabis Initiative will make it onto the 2018 ballot.

This measure would create a constitutional right for people 21 and over to consume, manufacture, and distribute cannabis for personal and commercial purposes.

It would also allow those under 21 to possess and consume medical marijuana with the written permission of a guardian and the written recommendation from a licensed physician.

California

Next year — provided that bureaucrats follow their own schedules — adults in California will be able to purchase recreational cannabis.

California’s massive economy will bring an unprecedented amount of cash to the legal cannabis market and further align the country’s business interests with legal pot — a move we’ve all been waiting for.

California’s recreational pot stores will dramatically increase the size of the entire legal weed marketplace.

Even without recreational cannabis, more legal weed sold in California than anywhere else in the U.S. In the second quarter of this year alone, California sold nearly $900 million worth of medical weed, compared to Colorado’s roughly $515 million and Washington’s $302 million.

And that’s in a system where adults are able to purchase legal pot only if they have a medical marijuana prescription.

When California opens its dispensary doors to the recreational sector, the market is expected to skyrocket into a $7 billion-a-year industry.

The Bottom Line on Legalization

California, Nevada, Maine, Massachusetts, Alaska, Oregon, and the District of Columbia have all followed Colorado and Washington with either legalizing the sale and use of recreational marijuana or, at a minimum, with decriminalizing the possession and consumption of small amounts of marijuana.

But 2018 could just be the tipping point we’ve all been waiting for — the moment when the momentum of marijuana makes it impossible for lawmakers to avoid legalization.

The taboos against smoking dope may just go up in a cloud of narcotic smoke.

That’s all for now.

Until next time,

John Peterson
Pro Trader Today