US Election’s Impact on Marijuana Stocks

US Election’s Impact on Marijuana Stocks

By Vin Maru |

This Tuesday November 8, 2016 Americans are not just voting for a new president but many of them will be voting on the fate of legal cannabis in their state.  The actual presidential election between Hilary Clinton and Donald Trump may have little impact on the cannabis industry in the United States, neither of the candidates have a pro stance on marijuana legalization like the current Prime Minister of Canada Justin Trudeau did going into the elections.  So for now, the American citizens of each state will still have to lobby and vote for recreational or medical marijuana in their individual state, there is very little to no motivation at the federal level to change the status of marijuana as a schedule I drug.

However, during the elections this Tuesday, Voters in five states — Arizona, California, Maine, Massachusetts and Nevada — will decide whether to legalize recreational marijuana for adults. There are four States that will also vote for Medical marijuana on their ballot, they are Arkansas, Florida, Montana, and North Dakota.

The deputy director of the National Cannabis Industry Association Taylor West believes this election will be “a tipping point” that makes it impossible for Congress to keep ignoring the issue. “If all nine initiatives were to pass, we’d have approximately 62 percent of the US population living in a state where medical or adult-use cannabis access is legal. That’s huge,” she said.