2 Positives for Marijuana Stocks to Take from NJ Marijuana Legalization Process – Profit Confidential

iStock.com/AlexLMX NJ Legal Marijuana: Is It Close?

As more and more U.S. states legalize medical marijuana, many have begun to ask the inevitable question: Should recreational marijuana legislation follow?

That’s exactly what’s happening with New Jersey (NJ) marijuana legalization at the moment. The state, with laws already on the books permitting medicinal weed use, is now discussing whether to take the next logical step and allow recreational marijuana use.

The topic of NJ legal marijuana is important for a variety of reasons, but most of all in how the state is tackling the process of marijuana legalization.

Far from making it easy to sell pot in the state, New Jersey has put in a number of obstacles that one must overcome in order to legally sell marijuana.

First, a seller must have a location where the property owner permits marijuana selling and the town or county has no explicit laws against marijuana sales. This means that, despite legalization coming down from the state level, municipal governments still have the power to derail marijuana sales. (“NJ marijuana legalization: How to get a marijuana license in cutthroat weed market,” Asbury Park Press, February 8, 2018.)

Considering that attitudes on marijuana are sure to vary from place to place, that makes NJ marijuana legalization more complicated than it appears at first blush.

Applicants who apply for the license, even with a location in mind, still face a number of hurdles. They must have squeaky-clean criminal records. They also must have capital. Preference is given to those with experience selling the drug, though that only includes those who operated within the law, naturally.

Even with all those factors in their favor, people seeking marijuana licenses still face about 15-to-1 odds of getting the license.

The strict regulation has done little to temper the enthusiasm

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