The year 2022 is shaping up to be one for the books. Marijuana is making its way into the legal books as prohibition falls in many states. Only four states currently maintain full prohibition on cannabis. A lot of legalization depends on politics and legislature who vote but also on those who work on the ground to get marijuana recognized for all its benefits. Find out what is in store for cannabis in 2022 and what to be on the lookout for on the horizon.
Several states are moving towards recreational sales being legal for marijuana in 2022. Take a closer look at who is putting it in their books and what it might look like in their states going forward:
- Montana: Possession of cannabis is legal but recreational sales start in 2022
- Arizona: In 2021, retail sales of recreational cannabis started Jan 22
- South Dakota: Legalized medical cannabis July, 2021 but working on legalizing recreational use
- New York: Signed bill legalizing adult-use cannabis in New York Looking Ahead
There is forward momentum aimed at decriminalizing marijuana in 2022. Although this is not new, there is energy behind it like never before. Federal proposals seek cannabis reform in many states with five states joining recreational cannabis sales recently. Some bills, including the Marijuana Opportunity Reinvestment and Expungement (MORE) Act would remove cannabis from the Controlled Substance Act and purge records for those convicted. This important step has been in the works for some time but has never seen as much push. The SAFE Banking Act would allow the cannabis industry to use commercial loans, checking accounts and credit-card processing which are not currently regulated or allowed.
Why 2022 Matters
Every sector of the cannabis industry is working hard to bring positive change from consumers to distributors and dispensaries. Cannabis is a fast growing industry with lots of momentum but it can be quickly stalled by politics even when people want it. New studies suggest adult consumers are highly successful, educated and health-conscious, which fights back against stereotypes people have of consumers. Diversifying consumers and businesses is key to success and means great future growth in the industry. Where cannabis dispensaries are often regulated for safety and compliance, it can also keep them from accessing larger amounts of consumers who seek help. Federal efforts have stalled even if states have taken matters into their own hands. Cannabis is the fastest growing sector for job creation and tax revenue. The largest market, California, received more than $1 billion in additional tax revenue from cannabis in 2020. With COVID-19 recovery underway, predictions are that cannabis will help revitalize economies in 2022 and federal legislation will continue to see increased support. The goal is to keep looking ahead while seeing the progress made and achieving small steps to big victory now and in the future.
Mary and Main aims to help educate consumers on products and services they can access in Maryland. Contact us to find out how we can help you select the best products for your situation.