Will Florida Cannabis Legalization Help Marijuana Stocks? News Home
Saturday, December 02, 2023 03:29 PM | MarijuanaStocks.com via QuoteMedia
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Will Florida Cannabis Legalization Help Marijuana Stocks?
2023-12-02 15:29:23 ET
Florida Voter Support for Marijuana Legalization
Recent polls show strong support for marijuana legalization in Florida. About 70% of voters favor the initiative. If passed, this law would allow adults over 21 to buy and have up to 28 grams of cannabis. The initiative faces legal challenges. However, if it succeeds, it could be effective by May 2025. Analysts estimate this could generate between $195.6 million and $431.3 million in annual tax revenue.
Economic and Legal Implications of Cannabis Legalization in Florida
State economists and law enforcement are assessing the impact of cannabis legalization. They expect significant tax revenue from legalization. But, there are concerns about increased traffic incidents and DUIs. The Department of Corrections does not expect a significant decrease in prison numbers from legalization. The overall economic impact on law enforcement is still unclear.
Growth of the U.S. Marijuana Industry and