Ohioans Move Closer To Putting Cannabis Legalization On November Ballot And 'It's Going To Pass'

Ohioans could be voting to legalize recreational marijuana later this year though there are some obstacles to clear in order to get the proposal on the November ballot. But optimism is running high. 

The Coalition to Regulate Marijuana like Alcohol has a proposal that would legalize and regulate the cultivation, manufacturing, testing and sale of marijuana to Ohioans 21. 

Get Ready To Start Collecting Signatures...Again

Ohio lawmakers have until Wednesday to pass the law, though that’s not likely to happen. If no action is taken on the proposed law, legalization supporters can move forward and begin collecting signatures to get the proposal on the ballot, reported the Ohio Capital Journal. The coalition submitted the proposal through an initiated statute, a legal process citizens can use to propose changes in state law.

The coalition would need to gather some 124,000 signatures from 44 of Ohio’s 88 counties before the July 5 deadline, a task many believe can be successfully undertaken.

Finally! 

Tom Haren, a spokesman for the Coalition to Regulate Marijuana Like Alcohol, says he’s confident the proposal will not only get on the ballot but that Ohio voters will finally legalize marijuana.

“It’s going to be on the ballot and it’s going to pass,” Haren said. “Ohio consumers will not have to rely on their drug dealers or go to Michigan. They will be able to have safe, effective and regulated adult use of cannabis right here in the Buckeye State. The primary way that it will help Ohio is it’ll provide an alternative to the illicit and unregulated market.”

Working With Medical Marijuana

Legalizing adult-use marijuana is expected to work alongside Ohio’s medical marijuana program. Under the Coalition’s proposal, medical patients and people over 21 can buy products at currently functioning medical marijuana dispensaries.

Tax Dollars From A Large Market

The annual cost of medical marijuana (MMJ) registration in Ohio is $50 for patients and $25 for caregivers. There are 355,368 patients that have registered for MMJ and 168,741 have both active registrations and active recommendations as of March, according to the Ohio Medical Marijuana Control Program. MMJ became legal in Ohio in 2016, though the first dispensary didn’t open until 2019.

Researchers from Ohio State University estimate the potential annual tax revenue generated from adult-use weed in Ohio ranges from $276 million to $374 million by year five of an operational market.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.