$3 billion cannabis markets on the ballot tonight 💰💰💰

ELECTION DAY
$3 billion cannabis markets on the ballot today

Driving the news: Four states are voting on cannabis legalization measures today, including both Dakotas, Nebraska, and the industry’s biggest prize — Florida.

A new report from MJBizDaily indicates that if all the ballots go pro-cannabis, the four states could collectively produce $3 billion worth of sales during the first full year. 

That’s a massive boon for the ailing industry.

Zoom in: Florida is clearly the industry’s priority, though polls show it’s going to be a photo finish tonight (and we’ll update you accordingly).

The Sunshine State cannabis market could be worth over $4 billion by the fourth year of legal sales, per MJBizDaily.

And more: Politico and Marijuana Moment will have live election results for all the cannabis ballots tonight. 

-JB

“I've been in the private sector, I've seen the evolution. I got out and people were like, well, New York's a bit of a mess. And within the last nine months, and especially over the last six, So many companies have approached me, especially from California, saying, ‘love the way New York is growing sort of incrementally,’” Axel Bernabe, now a partner at Manatt but formerly one of the key architects of legalization in New York, told Jeremy on Cultivated Live yesterday. 

Axel and Jeremy talked about the rocky rollout — and exciting future — of New York’s cannabis market. Watch the whole 37-minute conversation:

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Idaho may vote on legalization in 2026

An Idaho campaign to get a cannabis decriminalization measure on the 2026 ballot is nearing a final version of the proposal, reports Marijuana Moment. The ballot measure wouldn’t set up a commercial cannabis market — it would only decriminalize personal possession and use. 

Vox’s deep dive into legalization 🌿

Media outlet Vox dedicated an issue of The Highlight, its digital magazine, to drugs. There are two fascinating cannabis related stories: How marijuana legalization played itself, and How weed won over America.

Kansans support medical cannabis — but the legislature doesn’t 👀

Well over two-thirds of Kansans support legalizing medical cannabis, but the state’s Republican-controlled legislature voted against recommending legislation until at least next year, reports The Kansas Reflector.

Cannabis deliveries in AZ 🚗

Arizona dispensaries started cannabis deliveries last week, months ahead of schedule. Arizona News has more.

Cannabis earnings season kicks off today at 8:30 AM Eastern, with Trulieve up first, which should be interesting to say the least. Canadian cannabis firm SNDL follows at 10 AM. 

Here’s the schedule for the rest of the week (all Eastern):

November 6

• Curaleaf, 5:00 PM

• TerrAscend, 5:00 PM

November 7

• The Cannabist, 8:00 AM

• MariMed, 8:00 AM

• Verano, 8:30 AM

• Cresco Labs, 8:30 AM

• Jushi Holdings, 4:30 PM

November 8

• Planet 13, 6:00 PM

Curaleaf and Flora Growth do have a partnership?

So here’s an interesting update. Last week, Flora Growth dropped a press release touting a partnership with Curaleaf. We asked Curaleaf to confirm the partnership via email, and a spokesperson responded that there was no agreement in place. But yesterday, Curaleaf said it entered into an agreement with Flora Growth. We’re not sure if Flora Growth jumped the gun on the press release, or what happened, but either way, we’re a bit confused.

And more: 

Canadian cannabis firm SNDL closed its acquisition of cannabis producer Indiva.

Cannabis and driving 🚗

Ten out of twelve studies reviewed by researchers found no significant correlation between blood THC and impaired driving, according to a pre-print literature review published in the journal Lancet. Many states have sought to institute blood tests to measure cannabis impairment in drivers — but it’s not scientific. Other impairment tests may be more effective, given that cannabis is fat soluble and can show up in blood tests weeks after consumption. 

Cannabis and sex 🌿

Cannabis may help the 41% of women who face challenges achieving orgasms during “partnered sex,” according to a new study. 

New York has opened 226 legal cannabis shops. Here’s the locations, in a new map from the state’s Office of Cannabis Management.

New York’s Office of Cannabis Management is hiring a Multimedia Production Program Specialist to create social media content for the agency. Apply here.

Altria’s investment in Cronos is costing it millions | Green Market Report

DeSantis opposes recreational marijuana, yet similar intoxicating hemp products dominate | Tallahassee Democrat

Election countdown: Why marijuana capital markets could thrive in 2025 | MJBizDaily

Florida GOP's dominance tested with marijuana, abortion ballot questions | CBS News

How cannabis use is changing across the US | The New York Times

In Florida’s weed wars, Griffin and DeSantis clash with Trump and ‘Pot Daddy’ | Bloomberg

How Democrats blew their political advantage on weed | The New Republic