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Home 🌿 Recreational Marijuana News 🌿 Why the Marijuana Industry Is Happy That Ohio Didn't Legalize Weed 🌿Why the Marijuana Industry Is Happy That Ohio Didn't Legalize Weed
Voters rejected a state constitutional amendment that would have meant only 10 companies could operate legally in the state.
Legal marijuana entrepreneurs are upbeat that Ohio voters rejected a ballot proposal on Tuesday that would have legalized the sale of medical and recreational cannabis.
That may seem like an odd reaction. But passage of the measure, an amendment to the state constitution that appeared on the ballot as "Issue 3," would have resulted in a marijuana monopoly, according to many in the industry. The initiative's languageoutlined a market composed of only 10 pre-selected farms, effectively freezing out other would-be entrants.
ResponsibleOhio, a group led by the investors in those farms, spent millions of dollars trying to get Issue 3 passed. The investors include former boy-band singer Nick Lachey, former NBA star Oscar Robertson, and a descendant of former president William Howard Taft.
According to the Associated Press, 65 percent of voters were against the measure. This despite the fact that...
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