Ohio Becomes 24th State to Legalize Adult-Use Cannabis

3.6 min readPublished On: November 7th, 2023By

COLUMBUS, Ohio— In a defining moment for Ohio, residents went to the polls on Tuesday to cast their votes on Issue 2, a statewide ballot measure that has ushered in a new era of recreational cannabis legalization in the state. The measure, having been passed, now allows adults aged 21 and over to purchase and possess up to 2.5 ounces of cannabis and even cultivate their own plants at home.

This pivotal decision marks a significant turning point for Ohio and the broader cannabis legalization movement, as the state joins the ranks of the 24 states that have already embraced adult-use cannabis.

Issue 2 in Focus

At the heart of Issue 2 is the proposal to legalize the recreational use of cannabis for adults, granting them the right to purchase and possess up to 2.5 ounces of the plant and cultivate it in their own homes. Moreover, the measure outlines a 10% tax on cannabis purchases, with the revenue allocated to various vital areas.

A significant portion of the tax proceeds will go towards administrative costs, ensuring effective regulation and oversight of the newly legalized industry. A substantial allocation is also earmarked for addiction treatment, recognizing the importance of addressing potential concerns that may arise with expanded cannabis access.

Municipalities with dispensaries will also receive a share of the tax revenue, further solidifying the localized impact of this groundbreaking decision. Additionally, a portion of the funds will be dedicated to social equity and jobs programs, aiming to create opportunities for communities that have been disproportionately affected by the War on Drugs.

 

Republican Governor Mike DeWine (Photo by Kirk Irwin/Getty Images Library license).

Ohio’s Historic Move

Ohio has become the 24th state in the United States to legalize recreational cannabis for adult use. This momentous step represents a significant stride toward the normalization of cannabis in American society and aligns with the growing national trend in favor of cannabis reform.

This vote is the culmination of a nearly two-year-long effort led by the Coalition to Regulate Cannabis Like Alcohol. The organization has shown remarkable resilience in surmounting administrative, legal, and legislative challenges to place this citizen-initiated statute before voters. The campaign has been a beacon of hope for supporters of cannabis reform, illustrating the power of grassroots efforts to enact change.

Republican Opposition and Uncertainty

The road to this referendum has been marked by political tension and opposition from various quarters. Ohio’s Republican-dominated Legislature was granted a four-month window to pass the measure into law, but faced with significant opposition among majority lawmakers, the proposal was not advanced.

GOP Senate President Matt Huffman stood firm against the proposal and had suggested lawmakers may try to rewrite or even repeal it if it passed.

Republican Governor Mike DeWine also opposed it, citing traffic safety concerns, among other things. Some of the state’s most influential business and manufacturing organizations also worked against the measure, citing concerns that workplace safety would deteriorate, absenteeism would rise, and workers’ compensation rates would be driven up.

The advocacy group NORML said in a statement: ”Despite this public opposition from the state’s GOP-led Senate, Republican Gov. Mike DeWine, the Chamber of Commerce, county prosecutors, and others, voters decided in favor of facts, not fear.”

The Case for Legalization

The Coalition to Regulate Cannabis Like Alcohol argues that it’s time Ohio legalizes and regulates cultivation, manufacturing, testing, and sales of cannabis and cannabis products for adults 21 and older. Proponents say the measure will return tax revenue for cannabis purchases now going to neighboring states where it’s legal and help thwart the black market.

They have touted their proposal as “fixing a broken system,” while assuring localities where dispensaries are situated maintain some control over the system and reap a portion of the proceeds.

Opponents say the taxes collected will benefit the cannabis industry more than Ohio’s budget.

The Verdict

As the votes were counted and the future of cannabis legalization in Ohio hung in the balance, the state was at the forefront of a historic decision. The outcome of this referendum will undoubtedly have implications for Ohio’s social, economic, and political landscape. Regardless of the result, it highlights the growing momentum behind the push for cannabis reform and sets the stage for what could be a transformative chapter in Ohio’s history.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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