U.S.-listed stocks of cannabis producers rose on Tuesday after the Florida Supreme Court on Monday allowed voters to decide the fate of recreational marijuana use in the state through a referendum on the November ballot. rose pre-market.
If passed, adult-use marijuana would be legal in the nation’s third most populous state.
Why is it important?
Florida could be the next top prize for regulated marijuana operators in the United States. With a population of over 22 million people, it is also an important medical cannabis market.
Residents to vote on legalizing recreational marijuana on Tuesday
The Biden administration’s efforts to promote cannabis reform could increase, including loosening the treatment of psychoactive plants under federal law and pardoning thousands of people convicted of simple drug possession. There is sex.
Florida voters will have the opportunity to decide whether the state should legalize recreational marijuana use. (Reuters/Carlo Allegri/File photo)
U.S. health officials also proposed reclassifying marijuana as a low-risk substance last year, raising hopes for legalization at the federal level.
U.S.-listed shares of pot companies SNDL, Tilray Brands, Aurora Cannabis and Canopy Growth rose between 1% and 6.8% before the bell. Adult-use cannabis is legal in 24 states in the United States, as well as the District of Columbia, Guam, and the Northern Mariana Islands.
“Florida, the nation’s largest medical marijuana market with a large population and political clout, is a state where many Americans say ‘yes’ to legally regulated cannabis and positive health, wellness, and economic prosperity. We have a chance to join the vast majority and make history.”This amazing plant benefits millions of individuals and countless communities every day,” said George, CEO of Verano Holdings. Akos said.
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“We are grateful that the court correctly determined that the ballot initiative and summary language meet the single subject and clarity standards. We look forward to supporting this campaign as it heads to the ballot this November. ,” said Kim Rivers, CEO of Trulieve Cannabis. .
