Colorado Springs voters have definitively legalized recreational marijuana sales, overturning a decade-long prohibition in the state's second-largest city.
According to the final recount – although still unofficial – results from the El Paso County Clerk and Recorder's Office, Ballot Question 300, permitting adult-use sales, passed with 54.7% approval, while Question 2D, a competing measure to permanently ban such sales, failed narrowly at 50.6%. So, it seems the dust has settled and cannabis advocates can now celebrate their victory.
As a result, roughly 90 medical marijuana dispensaries will be able to now sell to everyone.
Read Also: Is Colorado’s Cannabis Market Back On Track? A 5% Sales Boost Says Yes
Relevant Shift In A Conservative City
The outcome marks a turning point for Colorado Springs, a city with military roots and conservative values, which is now evolving into a more progressive and diverse community.
For years, residents wanting cannabis traveled to other Colorado cities or bought their weed on the illicit market. The same initiative was rejected two years ago.
With the approval of Ballot Question 300, legal adult-use cannabis sales will meet the local demand while generating significant tax revenue.
Mason Tvert, a representative from the cannabis policy firm VS Strategies, told Axion Denver "Colorado Springs voters decisively authorized adult-use cannabis sales, and city leaders should respect their decision."
While the voter-approved measure is a win for legalization advocates, obstacles remain.
A restrictive zoning ordinance passed by the city council prior to the election prohibits cannabis shops from operating within one mile of schools, daycare centers and treatment facilities. Whether the new law supersedes these restrictions is yet to be clarified by city officials.
Election results will be certified by Thanksgiving week. Opponents of legalization, including Mayor Yemi Mobolade, have said they will not request a recount.
- Read Next: Colorado Cannabis Company Projects $1.03M Revenue In Q2, Explores Opportunities In Germany
Cover: Results in Steve Schleiker, Clerk and Recorder
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
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.