Recent polling data from the Public Policy Institute of California (PPIC) indicates that at least 60 percent of California voters are in favor of legalizing recreational cannabis.
The Adult Use of Marijuana Act is expected to appear on California’s ballot this November, giving voters the chance to legalize cannabis possession and use for adults aged 21 and older.
The Act would create a Bureau of Marijuana Control within the Department of Consumer Affairs, which would set possession rules and establish a regulatory framework for the commercial production and distribution of recreational marijuana products. Estimates indicate that California — one of the world’s largest unique economies — could earn as much as $1 billion in annual taxes from a legal cannabis market.
The initiative enjoys support from California Lt. Gov. Gavin Newsome and financial backing from Silicon Valley billionaire investor Sean Parker, who has already donated $1 million to the campaign effort.
Legalization is heavily opposed by law enforcement and prison guard groups around the state.
PPIC data also showed majority support among likely California voters for an increased excise tax on tobacco consumer products, as well as raising the tax rate on earnings higher than $250,000 to increase education and health care funds.
Get daily cannabis business news updates. Subscribe