They may have rejected a measure to legalize cannabis in their state in 2022 and 2018 but it looks like North Dakotans will get another shot this November.
Thanks to New Economic Frontier, a North Dakota advocacy group for legalization, this measure has been added to the ballot this year. If approved by voters, it will legalize the use, home cultivation and retail sale of cannabis products no later than October 1, 2025.
Voters in Florida and South Dakota will also be voting on legalization measures this fall.
Florida voters will be weighing a constitutional amendment permitting existing medical cannabis facilities to engage in adult-use marijuana sales. Because the measure is in the form of a constitutional amendment, it requires approval from at least 60% of Florida voters to become law.
As for South Dakota, the latest legalization initiative will appear on the November ballot as Measure 29. It will mark the third time South Dakota voters will decide on the issue.
Industry leaders are applauding the measure and expressing considerable optimism that cannabis will be legalized in North Dakota.
Paul Chialdikas, senior vice president and central regional leader of Curaleaf, a multistate cannabis operator, said the measure being added yet again to the North Dakota ballot, signifies the growing mainstream acceptable of the plant.
“As one of only three licensed medical operators, running four of the eight current dispensaries in the state, we are already entrenched in the local communities of medical cannabis patients we have been serving since 2018,” he noted. “We have successfully transitioned more than half a dozen states from a medical to adult-use market and have the infrastructure and expertise to provide a diverse assortment of safe, tested products to adult-use consumers and medical patients alike if the initiative passes.”
For Colin Ferrian, portfolio manager at cannabis investment firm Poseidon Investment Management, legalizing cannabis in North Dakota could have positive ramifications for the state extending beyond personal consumption.
“With a $150 million market opportunity on the horizon, the measure promises to create thousands of jobs, generate millions in tax revenue, and relieve the judicial system by allowing law enforcement to concentrate on more pressing issues,” explained Ferrian. “The fact that voter support has grown from 40% in 2018 to 44% in 2022 shows that public opinion is shifting toward a more pragmatic and beneficial approach to cannabis regulation. By learning from other conservative states, like Arizona, where initial legalization efforts failed but later succeeded with stricter rules, North Dakota’s measure incorporates tighter controls on consumption and cultivation. These adjustments should help ensure that the ballot measure gains the approval needed from the state’s conservative voter base.”
ᐧ
Read the full article here