420 with CNW – New Jersey Residents to Vote on Marijuana Legalization During November Poll

The coronavirus pandemic and the coming presidential election have eclipsed New Jersey’s ballot for this year, its highest profile one in 2020. Despite this though, New Jersey may be the latest state to legalize recreational cannabis, that is, if the constitutional amendment gets a yes majority from the voters.

In the first-ever vote-by-mail election in New Jersey, ballots are set to be sent to registered voters in the state soon.

Apart from voting for president as well as the U.S. Senate and House, the people of New Jersey will also be tasked with deciding whether to amend the state constitution in order to permit individuals who are 21 and older to use cannabis. This amendment will also allow for the state to establish a regulated market for cannabis.

If the ballot is passed, New Jersey would be the 12th state, together with the District of Columbia, to legalize recreational cannabis.

A poll that was recently conducted showed that supporters are optimistic, given that more than three fifths of the voters voiced their support for recreational cannabis legalization. There are, however, a few opponents who are convinced that they can still persuade the voters against voting for the legalization. Both the opposition and supporter side have launched campaigns.

In support, NJ Can 2020, a social welfare group is planning on running digital ads to support the ballot. The group is made up of organizations such as the Latino Action Network, the ACLU of New Jersey, Drug Policy Action as well as the New Jersey CannaBusiness Association, among many others.

The group supports this measure, stating that the legalization of recreational cannabis will help boost the state’s economy by creating employment opportunities and raising tax revenue. Additionally, its legalization will right a social injustice in terms of the disparities in possession arrests, with black residents more likely to face incarceration almost 3 times more in comparison to their white counterparts.

This isn’t the first time New Jersey has tried to pass this legislation. The motion was first introduced last year but failed to get enough support from lawmakers. So instead, in December of 2019, the legislature voted to give the choice to voters this year.

If the amendment is approved, the state commission that will be overseeing the medical cannabis program will also be in charge of establishing the recreational-use market. In addition to the age-restriction, marijuana will also be subject to the state’s sales tax of 6.625%.

However, it remains unclear how soon cannabis will reach the market after the legislation is passed. Experts say the entire marijuana industry, including Pac Roots Cannabis Corp. (CSE: PACR), will be waiting with bated breath to see what decision the voters will make in November.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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