USA efforts to legalize recreational marijuana use saw mixed results on Tuesday, as voters in MI approved a measure legalizing the drug while North Dakotans looked set to block it.
"It's going to take about a year before we have commercial implementation of this system", said Hank.
The initiative failed with about 59 percent voting against legalization and about 40 percent voting in favor, with all precincts reporting by Wednesday morning, according to the North Dakota Secretary of State's website.
Executives at companies including Amazon.com Inc, Molson Coors Brewing Co, and Nike Inc have jumped to roles at Canadian cannabis companies such as Tilray Inc and Canopy Growth Corp over the last 18 months in order to gain experience in the industry. It would, however, have legalized cannabis for residents 21-years-old and over, and expunged old convictions for cannabis possession.
The Coalition to Regulate Marijuana like Alcohol says public consumption and driving under the influence are not legalized, and no commercial sales will happen until businesses are licensed and approved. "It is worth noting the first legalization initiative we ran in Colorado in 2006 received about 41 percent, and it wasn't much longer before we crossed the goal line".
MI midterm voters have followed the precedent set by nine other states already legalizing marijuana for recreational use.
Proposition No. 2 in Utah passed with about 53 percent of voters for the measure and about 47 percent against it.
Cannabis stocks reached new highs in pre-market trading Wednesday morning after voters in MI legalized the recreational use of marijuana. The Proposition would legalize cannabis for medical purposes for people with qualifying illnesses. Doctors can prescribe cannabis products for various symptoms, and patients can either buy it or grow it at home. Smoking cannabis will not be allowed. On a more municipal level, voters in various cities across OH weighed questions related to decriminalization and minimizing punishments so that possession is treated like a traffic ticket instead of a misdemeanor.
The measure would have reduced penalties for a variety of cannabis-related crimes and would have changed the state's constitution to focus on treatment instead of incarceration in drug-related charges.