Yesterday, the voters in Portland, Maine legalized the possession of up to 2.5 ounces of marijuana for recreational purposes. The measure passed overwhelmingly with 70% of voters in favor.
Note: it doesn’t legalize the sale or growing of marijuana, so it’s only a partial “legalization,” but still, pretty impressive.
Note: The police say they will continue to arrest people for possession based on state laws, and yesterday, Kevin Sabet’s Project SAM set up shop in Portland.
Meanwhile, in Colorado, 65% of voters approved the new marijuana taxes – a 15% excise tax and a 10% sales tax. While those taxes are significant (and significantly higher than alcohol taxes), and I’m concerned that the state do what it can do encourage legal channels at the beginning rather than discouraging them, still I think that smart producers will still be able to achieve a price point that will satisfy purchasers who would like to buy legally. And the taxes will help the political future of legalization.