When
low-limit riverboat casinos opened in April 1991 in Iowa, it caught the
country’s attention on national television. Six months later, neighboring
Illinois opened high-limit riverboat casinos to its residents. Five after that,
25 states had legalized true casinos, in part, as an effort to keep gambling
tax dollars from traveling across state lines.
Now,
in 2021, the cannabis industry is experiencing a parallel to that domino
effect. As Arizona, Montana, New Jersey and South Dakota voters passed
adult-use legalization initiatives in November, they joined the growing market
of 11 states that have opened additional revenue streams by taxing cannabis
sales.
The
push for adult-use legalization is now taking hold nationwide, as governors,
state representatives and citizen coalitions are realizing they don’t want to
be left behind in the multi-billion-dollar industry. As Senior Digital Editor
Melissa Schiller wrote earlier this month, more than 15 states are
already considering cannabis legalization bills this year.
Earlier
this week, Connecticut Gov. Ned Lamont unveiled an
adult-use legalization proposal in his budget request,
specifically pointing out that dispensaries in neighboring Massachusetts “are advertising
extensively here in Connecticut. And rather than surrender this market to
out-of-staters, or worse, to the unregulated underground market, our budget
provides for the legalization of recreational marijuana.”
And
although some states are still fighting legalization efforts, like Idaho, which
has $600 million of rainy-day funds stashed away in an emergency account, it's
still difficult to ignore what’s happening next door in Ontario, Ore. A city of
11,000, Ontario’s dispensaries
are booming on the state line with Idaho, with $91.7 million in
cannabis sales from 2020, in large part to their retail operations’ proximity
to Boise residents.
-Tony Lange, Associate Editor