Hi. I’m John Persinos, editor-in-chief of Marijuana Investing Daily. Welcome to my video presentation; below is a condensed transcript.

Looking for an industry’s that’s resistant to geopolitical risks, such as the escalating Russia-Ukraine war? Consider the booming marijuana sector and its ancillary industries such as psychedelics. The marijuana industry is volatile, but over the long haul, the overall trend for pot equities points in one direction, and that’s up.

Marijuana legalization is an unstoppable trend. Pot makes money not just for global investors, but also for entire local communities. Nearly every country and jurisdiction on the planet is touched by marijuana’s footprint.

During the worst of the pandemic, marijuana dispensaries adapted to a remarkable degree, developing sophisticated online ordering platforms and offering delivery and curbside pickup. During lockdowns, many states deemed marijuana an “essential service” and allowed canna-businesses to remain open.

For many Americans, stocking up on pot has become as essential as stocking up on milk and bread. The efforts of canna-businesses to develop technology and operational logistics to meet demand during the pandemic will continue to pay off in 2022 and for years to come. The health exigencies of the coronavirus crisis accelerated the development of much-needed marijuana infrastructure.

Let’s take a look at the latest marijuana news on a state-wide basis.

Arizona

New data show that in 2021, the first year that Arizona adults could legally purchase marijuana, they spent more than $1.4 billion on weed.

According to the Arizona Department of Revenue (AZDOR), the recreational market generated nearly $650 million, despite sales beginning on January 22. The medical marijuana market, which has existed for a decade, posted $758 million in sales in 2021, according to AZDOR.

As the following chart shows, sales of medical marijuana are rapidly growing throughout the U.S. (the years 2022-2024 are estimated):

Florida

A new poll released last week found that three-fourths of Florida voters support legalizing marijuana possession for adult use, representing solid majorities in both political parties.

In the University of North Florida survey, 76% of respondents said they either strongly or somewhat support allowing adults to “legally possess small amounts of marijuana for recreational use.”

Read This Story: Pot’s Budding Political Clout in 2022

This represents a 12 percentage point increase in support since the last time the university polled on the marijuana issue in November 2019.

The poll involved interviews with 685 registered Florida voters from February 7-20, with a +/-3.74 percentage point margin of error.

New Jersey

Gov. Phil Murphy (D) vowed last week that recreational marijuana sales will start “within weeks,” with certain existing medical cannabis dispensaries set to be licensed for adult-use retail commerce.

In the 2020 November elections, five new states passed initiatives to legalize adult-use (i.e., recreational) and medical marijuana: Arizona, New Jersey, Montana, Mississippi, and South Dakota. The situation in South Dakota is problematic, to say the least.

South Dakota

The South Dakota Senate last week approved bills to legalize and tax marijuana in the state and provide expungements for low-level cannabis offenses. The bill now advances to the House.

However, Gov. Kristi Noem (R), a social conservative adamantly opposed to marijuana legalization, stated last week that she isn’t ruling out a veto if the legislature delivers a marijuana legalization bill to her desk. Noem also expressed skepticism about voter support for legalization, despite the fact that they already approved a legalization ballot measure in 2020.

Pro-marijuana advocates are currently collecting signatures for a 2022 reform initiative, but they said they would be willing to abandon that effort if the legislature delivers politically viable legalization legislation.

In South Dakota, we’ve seen how an obstructionist governor can roll-back the will of the voters on marijuana.

South Dakota Constitutional Amendment A was a cannabis legalization initiative that passed with 54% of the vote in 2020. The measure would have legalized recreational marijuana in South Dakota effective July 1, 2021.

South Dakota Measure 26 was an initiative to legalize medical cannabis. Amendment A and Measure 26 appeared on the same ballot. Measure 26 passed by a 70% margin.

However, private anti-marijuana groups immediately challenged the legalization measures in court, on legal technicalities. Governor Noem threw her support behind the legal challenge. For now, marijuana remains illegal in South Dakota, although pro-reform advocates expect to eventually prevail.

Want to make money on the increasing legalization of pot and psychedelics? For our latest report on the best investment opportunities in cannabis, click here.

John Persinos is the editorial director of Investing Daily.

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