Cannabis Reform Stumbles In 2024 Elections: A State-By-State Breakdown As Stocks Take A Hit
Cannabis reform faced a challenging moment in the 2024 U.S. elections, with several key state initiatives falling short and delivering a setback to advocates and industry players alike. Despite high hopes, the results painted a mixed, often sobering picture of regional attitudes toward cannabis reform. Here’s a look at each state’s journey, the measures they considered and what these outcomes signify for the cannabis community and the future of legalization efforts nationwide.
Florida
Florida’s Amendment 3, which sought to legalize cannabis for adult use, gained 55.9% support but fell short of the required 60% threshold for constitutional amendments.
Despite support from high-profile advocates, including former President Donald Trump, the initiative faced consistent opposition from GOP figures like Governor Ron DeSantis. Leading up to the election, DeSantis held conferences opposing the measure, with additional opposition funded by the state’s transportation department. Although disappointed, industry leaders like Anthony Coniglio of NewLake Capital Partners (OTC:NLCP) expressed optimism, noting, “It’s important to recognize the bipartisan voter support that the measure received.”
Nebraska
Nebraska saw a significant shift in policy with the passage of two medical cannabis measures. Initiative 437, which enacts the Nebraska Medical Cannabis Protection Act, allows patients to …