Election Day was cause for celebration among cannabis investors, as five U.S. states legalized the use of marijuana for either medical use, recreational use, or both. Nov. 3 the states of Arizona, Mississippi, New Jersey, Montana and South Dakota approved ballot measures to legalize pot. Meanwhile, Oregon, which legalized marijuana years ago, became the first U.S. state to legalize the regulated medical use of psilocybin, the hallucinogen found in “magic mushrooms.”
Of the five states that voted on cannabis, four states approved legal recreational marijuana for adults age 21 and older. Mississippi approved medical use, while South Dakota approved both recreational and medical use at one time.
“One of the biggest surprises from the sweeping win was the staunchly republican states of South Dakota, Montana and Arizona all approving recreational cannabis, proving that cannabis has become a bipartisan issue,” says Dominick Volpini, vice president of Cloudious9 Inc.,