Missouri, which voted for former President Donald Trump in 2020, became the 21st U.S. state to allow adults over 21 to buy cannabis.
Industry pundits mostly praised the mixed results for cannabis votes in Tuesday’s midterm elections, as Maryland and Missouri became the 20th and 21st U.S. states to allow adults over 21 to buy cannabis.The results marked a marginal gain for the adult-use cannabis industry, which continues to roll out in more U.S. states.Cowen analyst Vivien Azer said the “cannabis green wave hit a wall” with defeats in the three states.
Joe Caltabiano, co-founder of Cresco Labs CRLBF, +6.57% CL, +6.73% and the JSC FUnd, said one of the best outcomes of the election is that it will boost the number of U.S. Congress members from states with adult-use cannabis. Also Read: Cannabis stocks rally after Sen. Chuck Schumer said marijuana banking and expungements bill is ‘very close’
Missouri marks the second state that backed Donald Trump in the 2020 elections to allow adult-use cannabis, as the issue drew support from Republicans as well as Democrats. Alaska, which allowed adult-use cannabis, voted for Trump in 2020 while Arizona, a swing state that went to Biden, also permits cannabis use and purchases for adults.
The cannabis initiatives fell short of the clean sweep of states with ballot initiatives in the 2020 election.
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