Election 2020 updates, analysis and highlights

Marijuana Business Daily reporters and editors are providing live coverage of the 2020 general election, focusing on legalization ballot measures in five states as well as key federal races that could affect MJ reform.

Scroll down for updates our staff has filed about the states voting on marijuana-related proposals as well as potentially pivotal U.S. congressional races in addition to the presidential  vote. Click here for the current results tally on key state initiatives.

You can also get up-to-date insights on state ballot initiatives and all things Election 2020 for cannabis at MJBizCon. We start with Election Week.

(All entries are in Eastern time.)

2 p.m. (National)

Below are the races, state ballot initiatives and issues that Marijuana Business Daily will monitor and report on this Election Day.

• Will the U.S. Senate flip to the Democrats and will Joe Biden win the presidency? If so, major federal marijuana reform, perhaps even legalization, could occur, industry experts say.

• Will New Jersey voters legalize adult-use marijuana? If so, that is likely to create a billion-dollar market by 2024 and a domino effect across the Northeast and perhaps the mid-Atlantic region. States especially likely to follow suit with legalization through their legislatures include New York, Pennsylvania and Connecticut. Virginia and Maryland are possibilities, too.
• Will Arizona voters legalize adult use? Arizona already has one of the biggest medical marijuana markets in the country. Adult-use cannabis also would be huge, with projected sales reaching more than three-quarters of a billion dollars a year by 2024.
• Will Mississippi legalize medical marijuana? One of the initiatives is wide open, with no license caps. MJBizDaily projects a market of $800 million a year by 2024. A yes vote also could influence other states in the Deep South such as Alabama. But a competing, more restrictive measure put on the ballot by the state Legislature could result in neither getting enough votes for passage.
• Will South Dakota become the first state to simultaneously legalize medical and adult-use cannabis? South Dakota is a small market, but it would be another politically conservative state to legalize.
• Will Montana legalize adult-use marijuana? The University of Montana projects annual sales of more than $200 million from this business-friendly initiative. Licenses would be limited to Montana residents, however.

– Jeff Smith