New York

No one could have foreseen that South Dakota would legalize marijuana before New York. That’s a double strike against NY because New Jersey beat them to it as well. The race is now on.

New Jersey is interesting because they don’t impose any special marijuana tax on sales, relying totally on their existing sales tax (about 6.25%). That means if NY did legalize, and tax like all other states, NJ will always have the cheaper products.

Now consider that besides NY, Connecticut and Rhode Island and Delaware will be looking at legalizing as well, four more states that can act in 2021.

Meanwhile, New Mexico will almost certainly finally pass their law early in 2021. So depending on how things go, that’s 40 senators that come from legal states.

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