Kush Bottles Inc (OTCMKTS:KSHB) a supplier of packaging accessories, supplies and branding solutions for the legalized cannabis market, reported that its CEO and Co-Founder, Nicholas Kovacevich, expressed his opinion on the historic election, in which numerous states voted to permit marijuana.
The highlights
The CEO of Kush Bottles said that the nation now witness that legal cannabis is not a Republican or a Democrat concern. Adult and medical use cannabis was sanctioned in states that favored for candidates from the two parties. Cannabis is not a matter of politics, instead it is about the advantages of having a regulated market that offers opportunities, tax revenues and jobs, with accountability and transparency. Four states sanctioned recreational, adult use of cannabis. Also, another four states permitted cannabis for medical use.
California, one of the largest world economies, approved the adult use of pot. Already the leading cannabis market in the country with only medicinal use approved, market experts are estimating considerable growth in the sector. More than 50% of voters in Massachusetts advocated adult use, recreational marijuana in the state. It may also offer drive for neighboring states, mainly New York, to allow similar legislation.
With more than 42 million visitors annually, Nevada’s newly permitted adult-use cannabis industry shows immense potential. Adult use, recreational marijuana is now approved in two northeast states with the Question 1 passage in Maine.
In Florida, the vote on Amendment 2 approved with 71% in favor of legalizing medical marijuana. The state, with a population of more than 19 million, becomes the first South state to approve cannabis for adult use. Talking about North Dakota, voters approved Measure 5, with 64% supporting medical marijuana access. In Arkansas, voters approved Issue 6, enabling medical marijuana access, with over 50% coming for the ballot measure. Besides Florida, this vote is of significance for the extension of medicinal pot in the South.
In Montana, 57% of voters advocated the ballot initiative that rolled back limits, to open-up the industry that was initially passed in 2004.
The CEO of Kush Bottles said that 29 states, and Washington, D.C. will boast a legalized cannabis system. They will look back on election as a growing point for the country, and for the cannabis industry.
