It would appear that one of the biggest states that everyone was hyped about, because of Governor Phil Murphy trying to make Marijuana legal, has entered a temporary hiatus on marijuana legalization.
Here are some of the reasons why NJ has paused marijuana legalization temporarily:
Concerned parents & people of authority
Parents and the “grown-ups” are here to ruin the next exciting thing for marijuana companies, as more and more people are concerned about the safety of the general public over making pot legal. Many are concerned that pot has addiction and paranoia issues, and this could lead to a loss in morale and even cause massive panic in the people.
The grown-ups do not like the change that every state is embracing, and therefore, NJ has stated that it will be halting the legalization of Marijuana temporarily.
The patients who are on marijuana-based medications can rest easy though, for most NJ marijuana dispensary centers should still be able to provide them with marijuana. It would appear that for medial purposes, Marijuana can still be used, but on a more controlled level.
Might be good for the economy
Because marijuana was getting legalized way too soon, while the rest of the world was watching, it meant that the market was getting more and more unstable. The marijuana market was reaching new peaks, and new companies were fishing for a survival of the fittest. It was literally a massacre of new and old companies in one massive battlefield.
If the legalization is paused, marijuana companies will have time to think about the entire marijuana process and how to properly implement marketing and tips that might be necessary for the general public.
For most of the country though, the pause isn’t set in place, so we can’t be too sure about what company is going to win in the economy race. Some other states have already taken the leap
Apparently 10 other states have taken the leap, and made marijuana legalization a hiatus, especially until the general public is able to figure out what they are going to do with all this marijuana. Because marijuana is very addicting, using it in the wrong hands could cause a lot of damage to the general public’s health, and could prove to be a massive challenge for the country. Problems with people smoking all the time is prevalent enough, and this marijuana problem might hurt the country even more.
Effect on taxes
Apparently, the taxes in NJ are something that most marijuana companies are excited about, while the state itself is not. The state might have paused marijuana legalization until they have had their entire tax process laid out so that the state itself benefits from the whole ordeal.
In states that have made marijuana legal, there are no restrictions on how much CBD edibles are legal per head, which is causing issues. To evade this problem, NJ might have decided to pause the legalization.
For companies that wanted to invest in Marijuana in NJ, this might not be good news. For most of the general public though, it is.