As 2020 came to a close, Montana, New Jersey, South Dakota, Arizona, and Mississipi all voted to legalize some form of marijuana use on the fifth of November last year.
On top of Biden winning the presidency, Democrats gained a majority in the Senate, giving them control over the House, Senate, and Presidency.
This would mean that cannabis companies no longer need to store their money in vaults protected by armed security, lowering costs for dispensaries, in addition to democratizing the industry for entrepreneurs who don’t have access to large amounts of capital.
According to the proposed bill, Israeli citizens aged 21 and over will be allowed to use cannabis and to purchase it at designated stores.
However, after failing to agree upon a new budget in 2020, Israel’s Knesset was disbanded and is now being re-formed, and means that the cannabis legalization bill has been put on the backburner.
Mexico was due to decide whether the country would legalize cannabis back in late October of 2019 after it was deemed unconstitutional to ban cannabis use and possession.
The legalization of cannabis, if done correctly, would deal a huge blow to the illicit market, and reduce the number of fatalities associated with illegal drug dealing.
states like New York and Virginia begin reaping the economic benefits of legalization, serving as further incentive for others to follow suit.
And if Mexico legalizes cannabis, we will see the opening of the biggest legal marijuana market in the world, which may also help to overthrow Mexico’s drug cartel.
Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies.
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