It may not be legal in every state of the union, but one thing is certain in the places where it is: Marijuana is a moneymaker.
Recreational marijuana currently brings in about $33 billion per year, according to an analysis by MJBiz Factbook, quite the haul for a product that is still illegal in over half of the 50 states.
However, with that kind of revenue, it’s not surprising that at least a few of the 27 states that have yet to pull the trigger on no-strings-attached legal weed are taking a long hard look at pot.
Of the 22 states that have voted to legalize recreational marijuana, three just came online this year: Delaware, Maryland and Missouri. So it begs the question, who’s next?
According to a new forecast by CNBC, four states could be leaning towards legalization in the near future: Florida, Minnesota, Ohio and Pennsylvania.
Minnesota in fact, with Democrats controlling both the state house and senate, could put a legalization bill onto Democratic Gov. Tim Walz’s desk before the current session ends May 22.
Florida meanwhile is in the midst of a petition campaign to get a proposed constitutional amendment on the ballot in 2024 that would legalize marijuana for recreational use. The petition needs 891,589 signatures and reportedly sits just about 50,000 signatures away from the goal.
Pro-pot Ohioans are also in the midst of a petition campaign, needing 124,000 signatures by July 5 to get their legalization proposal on the ballot. If it passes, it could be legal in the Buckeye State by year’s end.
And in Pennsylvania’s case, the state’s neighbors on all sides are already benefitting from legal marijuana’s tax windfall, and three separate proposals are being bandied about the state legislature.
If all four opt for legalization, it would tip the balance of states with more than half the country having legalized recreational marijuana.
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