Five More States on Track to Legalize Recreational Marijuana

There are nine state ballot measures regarding the legalization of marijuana that will be voted on this November. Five states will vote to legalize recreational marijuana, while the other four states are voting on legalizing medicinal marijuana.

Arizona, California, Maine, Massachusetts and Nevada are all looking to legalize recreational marijuana. Arkansas, Florida, Montana and North Dakota are proposing medical marijuana legislation. Equity research firm Cowen and Company said that if all five measures pass, the percent of the U.S. population and GDP covered by recreational states would grow roughly four times to 23% and 26% respectively.

The biggest and most watched measure is California’s Proposition 64. Roughly 60% of the population is in favor and its passage looks pretty strong. “I think as of right now, people are cautiously optimistic,” said David Dinenberg, chief executive officer of KIND Financial, a leading software company for the cannabis industry.

– Read the entire article at Forbes.