Last Night’s Recap: Cannabis Wins, Losses, & Surprises💊☕

From Florida’s halt to Dallas’s green light, here’s where cannabis reform stands after last night’s votes.

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Nicolas Rodriguez & Patricio Liddle
November 06, 2024

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It’s only Wednesday, and cannabis reform across the states has already taken a dizzying turn. Here, Nicolás Rodríguez and Patricio Liddle serve up the cure for that morning hangover from last night’s election results—a quick recap for an industry left mostly discouraged after key measures failed, especially in Florida. Trump’s shout-out couldn’t sway his home state, and big bills are still on ice. So, pour yourself a de-tox, and let’s digest the latest in cannabis politics.

Frustration mounted as voters in both Dakotas turned down cannabis legalization measures yet again. South Dakota’s Measure 29 and North Dakota’s Measure 5 failed to pass, with supporters pointing to lost opportunities in tax revenue, job creation, and safer options for consumers. 

“It’s a huge loss,” said South Dakota’s Todd Smith, predicting tough times for local businesses. Nina Zdinjak covered North Dakota’s rejection, highlighting the growing tension between public opinion and policy. 

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Don’t Stop Believin’ Yet, Nebraska

Nebraska finally gave medical cannabis the nod, with over 72% of voters approving measures to legalize and regulate it. Yet the victory feels tentative: legal challenges loom, leaving Nebraskans holding their breath. A pending court case could jeopardize the initiative if the signatures’ validity is not scrutinized. 

As attorney Paula Savchenko notes, advocates are bracing for a long road, with potential delays stretching into 2026. Jelena Martinovic’s coverage keeps readers on edge, capturing Nebraska’s cautious step forward in the face of relentless opposition.

A Green Patch in Texas: Dallas Approves Cannabis Decriminalization

In a Texas-sized shift, 65% of Dallas voters approved the “Dallas Freedom Act” to decriminalize minor cannabis possession—creating a green patch in the Lone Star State. 

Under the new law, Dallas police will stop arrests for low-level cannabis offenses, and taxpayer funds will be barred from testing cannabis for legality. 

Local advocate Natalie Marquez hailed this “decisive victory” as a challenge to Texas’s outdated approach. With Dallas now leading, could other Texas cities soon follow? Advocates hope so, despite anticipated state pushback.

Florida’s Amendment 3—intended to legalize adult-use cannabis—failed to clear the 60% threshold, despite a majority vote and endorsement from Donald Trump. Governor Ron DeSantis, however, stood firmly opposed, demonstrating his deep understanding of the state’s conservative core. For many Floridians who can get pregnant and rely on healthcare in regulated environments, this loss hits hard. Trulieve and other cannabis companies also feel the sting, watching potential growth vanish with this vote.

On a federal level, hopes are simmering for reform, though comprehensive legalization still feels like a distant dream. We might see tax relief with 280E’s removal or even changes in interstate trade regulations but don’t hold your breath for sweeping legislation. With advocates and the agriculture sector growing louder, the push continues—yet the federal stance remains lukewarm. A touch of support, a dash of opposition, but not enough to make waves.

Industry Tensions Rise Amid Election Results

Amid the rising tensions between hemp and marijuana sectors, rejection of cannabis legalization in Florida and the Dakotas will probably fuel divisions within the industry. Hemp-derived THC products continue to thrive, especially in states where cannabis remains illegal, sparking competitive challenges for traditional cannabis markets.

With so much at stake, we’ll be closely following these industry dynamics as the earnings season unfolds. Stay tuned to benzinga.com/cannabis for comprehensive coverage and analysis.

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Our Writers Today

Nicolás holds a B.A. in International Relations, an M.A. in International Affairs, and an M.Phil in Public Policy. He is a doctoral student in Public and Urban Policy at The New School in New York City. After working for the United Nations in 2014, Nico pivoted his research to studying the relationship between the cannabis industry and economic development.

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over half a century of failed drug prohibition. Beyond his professional expertise, Pato is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

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