Philadelphia Overwhelmingly Votes To Decriminalize Cannabis

Philadelphia voters approved a referendum on marijuana legalization. Preliminary results from Tuesday's elections showed the proposal leading by a 73 percent to 27 percent margin, according to local media.

Councilmember Derek Green (D) sponsored the measure that adds a section to the city charter stating that “the citizens of Philadelphia call upon the Pennsylvania General Assembly and the Governor to pass legislation that will decriminalize, regulate, and tax the use, and sale to adults aged 21 years or older, of cannabis for non-medical purposes,” reported Marijuana Moment.

In October, a bipartisan Senate bill to legalize marijuana in Pennsylvania was introduced by Sens. Dan Laughlin (R) and Sharif Street (D), while Rep. Amen Brown (D) announced his intent to file a reform bill that he’ll be working on with Sen. Mike Regan (R).

Pennsylvania's medical cannabis market has been one of the better success stories in the industry to date. By June 2021, the state had topped $900 million over a one-year period during the pandemic. 

Recreational cannabis in Pennsylvania could bring 32,000 full-time jobs, $3.3 billion in annual sales, and $520 million in yearly tax revenue to the Keystone State, according to the cannabis platform Leafly. 

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisGovernmentRegulationsMarketsDerek GreenLegalizationPhiladelphiaReferendum
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...