Missouri cannabis

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Missouri cannabis became legal for recreational use due to a ballot initiative that passed in November 2022. Missouri Amendment 3, also known as the Missouri Legalization Initiative, passed by a vote of 53-47% in the midterm election.[1]

Nearly $10 million was spent in support of this initiative, while no money was spent against it, thereby giving the cannabis industry an infinite advantage in campaign spending.[1]

Missouri has since become a mecca for pot in the Midwest, as all of its bordering states (except Illinois) ban recreational sales. Apparently addicts are driving from as far away as Texas to Missouri to get pot.[2] Car accidents from drivers high on pot seem likely to increase now.

By June 2023 there was $4M in marijuana sales per day in Missouri, which is nearly $1.5 billion in sales annually and could increase further.[3]

In July 2023, Missouri Gov. Mike Parson signed a special banking bill into law for cannabis businesses, making it easier for them to receive loans and engage in other banking.[4][5]

Money woes

Exorbitant stacked taxes and other financial woes beset companies in Missouri,[6] despite sales estimated to have gone from 0 to $1 billion annually in its first year.

References