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New Mexico Pot

Yesterday the NM Senate committee passed the marijuana legalization/regulation bill, with the House committee expected to do the same in a day or two. Last year it was the Senate that stopped a similar bill, so it looks like it will pass easily this year.

New Mexico has a functioning medical system which is prepared to convert rapidly when the first licenses are issued in January, 2021.

NM will be unique in the country in that it specifically prohibits local jurisdictions from banning cannabis businesses, a practice that has obstructed every other state that has legalized. No doubt this will lead to court challenges depending on the state’s constitution.

Assuming Arizona passes a legalization initiative in November, we’ll have legal pot in most of the West. Idaho, Utah, and Wyoming will continue to choose the unregulated market, preferring jail time for it’s citizens. Customers in these states will be expected to drive to nearby legal states for their supply, enhancing the tax revenues and profits for those shops on the borders.

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