The US election results you probably weren’t aware of

Voters in four other states this week approved measures that legalize marijuana: California, Maine, Massachusetts and Nevada.

Having a federally regulated medical marijuana regime – rather than a piecemeal, state-by-state system like the USA – has allowed Canadian marijuana companies to master large-scale, commercial production techniques, says Battley.

So far, the states that have agreed to recreational cannabis use seem to have experienced a boost in their economies.

The California vote to legalize recreational marijuana is significant being the most populous state with a current population of 39 million individuals.

“I think in California there are going to be more opportunities than anywhere else in the world”, said Adam Bierman, CEO of MedMen, a cannabis management and investment firm based in Los Angeles.

Medical marijuana dispensaries can apply for dual licenses to sell medicinal and recreational marijuana out of the same shop. It was among five states weighing whether to permit pot for adults for recreational purposes. While Arizona has disapproved its legalization, Maine’s results have yet to come in, according to CNN. Medical marijuana proposals in Arkansas and North Dakota [texts] were also approved. “Treat it the same way as they treat alcohol”.

In California the vote was split 56% to 44%, with predictions the state could make $US1 billion per year in taxes on marijuana.

Before Election Day, it was only legal to use recreational marijuana in four states and in the District of Columbia, with Colorado and Washington state approving the drug in 2012, and Alaska and OR approving it in 2014.

Nevada’s voters said yes to the use of one ounce or less for people 21 years old and above. For many financial institutions, the regulatory challenges associated with providing services to the marijuana industry remain too high. Many states legalized the recreational drug and some even denied it. California is now poised to… take back its place from Colorado as the Silicon Valley of marijuana, ‘ he told Forbes.

According to national polls, a solid majority of Americans support legalization.

The initiative allows adults to grow as many as six marijuana plants for their own personal use. Varying tax rates would be levied on sales, with the money deposited into the state’s marijuana tax fund. 54% of MA voters said yes to legal pot Tuesday in Ballot Question 4.