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Connecticut Will Put Legalization to Voters if Legislature Fails to Pass It
Speaking at a press conference in front of a Connecticut medical marijuana facility, the incoming state Speaker of the House Matt Ritter explained that should the Nutmeg State fail to pass marijuana legalization legislatively, they would do like New Jersey did and place a legalization referendum on the ballot.
Marijuana Moment reports that the success of New Jersey passing a similar legalization referendum by a 2-to-1 margin, the existence of Massachusetts legalization, and the pressure to legalize in New York and Rhode Island have all created inexorable pressure on Connecticut’s legislature to act.
Poll: New Yorkers Supporting Legalization at 2-to-1 Margin
Marijuana Moment reports on a new Siena College survey that finds twice as many New Yorkers support marijuana legalization than oppose it.
Sixty percent of New Yorkers surveyed approve of legalization, compared to just 32 percent who are against it. Since February, support has risen five points and opposition has declined eight points.
These findings comport with a poll last month by Spectrum News and Ipsos that found 61 percent in support vs 30 percent opposition.
While Gov. Andrew Cuomo has attempted to get legalization passed though state budget funding, the efforts have stalled over negotiations concerning licensing and social equity. This time around, the past election has given Senate Democrats a veto-proof majority, as Assembly Democrats have had, so the legislature could bypass the governor should he thwart any legalization bill it passes.
Cannabis Stocks Surge on Biden Transition Announcement
Riding a wave of trading enthusiasm that launched the US Dow Jones stock market average above 30,000 points for the first time, shares of cannabis stocks posted large gains.
Leading the surge is Aurora Cannabis, which saw its shares increase in value by 29.5%, followed by Tilray’s rise of 19.2%, Cronos Group adding 10.4%, and Canopy Growth climbing by 7.6%.
All those companies are headquartered in Canada.
MarketWatch reports that an index of cannabis stocks is up 26.5% this month, compared to a rise of just 9.4% in the S&P 500. Analysts attribute the overall boost in the stock market to the formal announcement by the Trump Administration of beginning the transition to the incoming Biden Administration.
Detroit Council Allows Recreational Marijuana Shops
The Detroit City Council on Tuesday unanimously passed an ordinance that would bring recreational marijuana shops to the Motor City and prioritize long-time residents in licensing.
The Detroit Free Press reports that under the ordinance, so-called “legacy Detroiters” will get half of the 75 licenses available for recreational sales.
These are Detroiters who, depending on certain factors, have lived in the city for 15, 13 or 10 of the past 30 years. The requirements also are aimed to benefit low-income residents and those with criminal records related to substance use.
Recreational sales began across the state in December 2019, with the exception of about 1,400 communities that opted out of allowing such sales in their domain.
Detroit was one of them, until now.
North Macedonia Considers Becoming First Balkan State to Legalize Marijuana
The government in North Macedonia is considering allowing recreational use of marijuana in cafes and hospitality places in the capital and other tourist hotspots, according to a report from Balkan Insight.
The landlocked European nation of 2 million lies north of Greece and between Albania on the Mediterranean Sea and Bulgaria on the Black Sea would become the first Balkan nation to allow legal marijuana.
North Macedonia has allowed pharmacies to sell medical marijuana since 2016.
Prime Minister Zoran Zaev said, “The idea is to allow consumption of marijuana in cafes, both in existing and new ones, and in tourist places.” Zaev mentioned The Netherlands as an example of the kind of regulations the country might adopt.