Ohio joins the ranks of states with a recreational cannabis market as the 24th to legalize it.
Ohio joins the ranks of states with a recreational cannabis market as the 24th to legalize it.
There are 24 states that allow adult use of marijuana. The new law allows adults 21 and older to possess up to 2.5 ounces (about 70 grams) of cannabis and grow up to six plants.
Ohio voters will vote Tuesday in a referendum on marijuana legalization passed. It will create a department responsible for establishing and regulating the adult-use cannabis market.
Cannabis tax
The regulations provide existing medical operators with the first opportunities in the market. However, it will soon also be possible to license others depending on market needs. Cannabis is subject to a 10 percent tax. A report from Ohio State University estimates that legal marijuana will generate the state about $300 million a year in revenue.
The launch of the market in Ohio is also likely to put pressure on the neighboring states of Pennsylvania, West Virginia, Kentucky and Indiana, as their residents will undoubtedly cross the border to buy marijuana. Sales are expected to begin in late 2024.
Source: politico.com (EN)
