Are Ohio's Legalization Efforts in Trouble? This Week in Cannabis Investing

Ohio became the 24th state to legalize recreational weed, but GOP lawmakers are already pushing back.

ohio state flag with cannabis leaves superimposed over it
(Image credit: Getty Images)

Ohio's legalization efforts could be facing an uphill battle following a celebratory election night. 

On November 7, Ohioans overwhelmingly approved Issue 2, a proposal to commercialize, regulate, legalize and tax the adult use of cannabis. The approval of Issue 2 should be a moment to celebrate as freedom and democracy push forward. However, this enthusiasm is tempered a bit by the reminder that the journey of legalized cannabis use is a continued slog that requires constant effort and support. Moments after the proposal was passed, Republican lawmakers and prohibitionist groups were already pushing back on the will of the voters.

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Morgan Paxhia
Contributing Writer

Morgan Paxhia is Managing Director and Co-Founder of Poseidon Investment Management. With over 10 years experience in investing and finance, Morgan has developed a deep understanding of individual company analysis, portfolio construction, and risk mitigation. This content is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing should be construed as a recommendation by Poseidon Investment Management, LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. This content should not be considered as an offer or solicitation to purchase or sell securities or other services. Any of the securities identified and described herein are for illustrative purposes only.  Their selection was based upon nonperformance-based objective criteria. The content presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Past performance is not indicative of future results.