Source: mjbizdaily.com
We love seeing how the cannabis industry is changing. 2021 was a huge year: New York, New Jersey, New Mexico, Connecticut, and Virginia all legalized recreational cannabis consumption and the fully-legal states make up for ½ of the entire US population. In comparison to just 10 years ago, this is a huge, exciting change!
Unfortunately, the 2022 Cannabis Legalization outlook may not be as bright as 2021. We’re breaking down the various interpretations and expectations for 2022 in this article, read on to find out what the experts are saying.
Federal changes-2022 Cannabis Legalization Outlook
- Federal legalization is the biggest hurdle for cannabis growers since federal law regulates banking, which in turn makes it difficult for growers to deal in credit cards, and having cash on hand can be very risky. In January 2022 Federal regulator Rodney Hood expressed how the cannabis industry needs banking support. Credit unions should also be ready to embrace this burgeoning industry.
- According to a YouGov poll, 58% of Americans would support political candidates who occasionally smoke marijuana in their free time.
- There seems to be some action in the Senate addressing the federal prohibition on marijuana.
Source: mjbizdaily.com
State-by-State Legalization Likelihood-2022 Cannabis Legalization Outlook
- Delaware: State representatives have sponsored legalization at the end of 2021, which includes a 15% excise tax on sales, but it may be over a year before recreational use is passed into law.
- Hawai’i: Legalization bills stalled in 2021 and will likely be picked up again in 2022. However, the outlook for legalization is foggy—there seems to be interest yet decisions are being made slowly.
- Kansas: Lawmakers in cannabis are pushing for a public vote on medical marijuana legalization in 2022, however, the attempt has been called a “bold move.”
- Maryland: HB 837 has been put forward for a vote by Maryland citizens in the November 2022 ballot. Fingers crossed!
- Minnesota: The Minnesota House of Representatives voted to legalize cannabis in 2021, but the Senate failed to act on the companion bill. However, new legislators who approve of legalization will be running in the next election cycle, including for governor.
- Mississippi: Mississippi is set to be the 37th state to legalize medical marijuana however recreational cannabis still has not made it into consideration.
- New Hampshire: The House of Representatives passed a bill allowing possession of cannabis and to grow plants but does not allow commerce, so don’t expect dispensaries, yet.
- North Carolina: In August 2021, SB 711 was approved as a part of providing medical marijuana to terminally ill patients, however, the path to legalization has been largely ignored.
- Ohio: Ohio lawmakers are currently considering three proposals to legalize marijuana with support for the bill from tens of thousands of Ohio residents. Yet, the debate is contentious and any legalization is very uncertain at the moment.
- Pennsylvania: House Bill 2050 is currently being debated by the Senate, with major concerns for safety, but vocal political leaders have been supporting the legalization.
- Rhode Island: After months of negotiation, Rhode Island’s lawmakers announced that they expect to legalize marijuana in 2022.
- South Carolina: On Feb 10, 2022, the Senate passed a medical marijuana bill, which is now on to a House vote.
Source: New Frontier Data Cannabis Consumer Evolution Report, 2021
Source: New Frontier Data Cannabis Consumer Evolution Report, 2021
Overall Cannabis Legalization Outlook
Cannabis legalization is widely supported across the United States and, as time goes on, it seems that legislators who do not support legalization are being marginalized as legalization becomes a more important political talking point.
We can only hope that this trend continues, but by the looks of things, 2022 may not be the milestone year that 2021 was. That said, federal attention towards opening the banking industry is an extremely important change for cannabis growers and consumers as well as state law. Our fingers are crossed for better cannabis policies!
As always if you have any questions you can message our Instagram or Facebook and we’ll be glad to help you out! We’re happy you’re on this journey and we want to help in any way we can.
Subscribe to the VIVOSUN newsletter for growing tips, grower stories, and special offers, and get 12% off your first order!
We love the new VIVOSUN Smart Grow System and we are certain that you too will love it once you try it.
And join our Facebook farmer’s community for even more exclusive contests and prizes!
Download VIVOSUN App to get 18% off and explore more information!
