November 2023 – KEY Insights for 2024 + More Movement on Legalization
Published Today
KEY’s Latest White Paper “The Evolving Cannabis Market”
White Paper
Navigating the cannabis industry today is as exciting and complex as it has ever been, on one hand new state markets continue to open and regulatory reforms are seemingly advancing; however, some mature markets are encountering growing pains related to the regulatory hurdles companies in the cannabis industry still face. Nevertheless, investors can find ample reasons to remain optimistic on the industry. According to Pew Research, merely one in ten Americans advocate for the continued prohibition of cannabis. Additionally, a 2022 Gallup poll revealed that a substantial 68% of Americans support the legalization of cannabis.
KEY Investment Partners provides an overview of current conditions in the industry as well as insight on investment opportunities in the white paper, “The Evolving Cannabis Market: Insights on the State of the Industry.”
Hot Off The Press! Ohio Votes to become 24th State to Legalize Adult-Use Cannabis
Ohio voters have approved a ballot measure, Issue 2, legalizing recreational cannabis, marking the 24th state in the U.S. to legalize adult-use cannabis. The decision allows individuals aged 21 and above to use, grow, or sell cannabis under a state-imposed regulation-and-tax program, effective in 30 days. Advocates campaigned for regulating cannabis “like alcohol.” Ohio legalized medical cannabis in 2016, and this move signifies a broader trend toward recreational legalization in conservative regions. Although opponents raised concerns about marketing edibles to children, the measure passed.
Efforts for recreational cannabis legalization are underway in other states like Florida, Nebraska, and South Dakota, despite a failed attempt in Oklahoma. While federal law still criminalizes cannabis possession, President Biden’s pardons and the Justice Department’s hands-off approach in legalized states indicate shifting attitudes. Additionally, the Department of Health and Human Services recommended rescheduling cannabis, reducing usage restrictions.
DISCLAIMERS: This site is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing on this site should be construed as a recommendation by Key Investment Partners LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. Nothing in this site may be considered as an offer or solicitation to purchase or sell securities or other services.
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