The effort to legalize recreational cannabis in Ohio is bankrolled by some of the state's biggest players in cannabis. And starting next year − if Issue 2 passes − those companies could end up with the lion's share of licenses to sell products in the adult-use market.
Ohio voters will decide on Nov. 7 whether to approve the proposed law, which would allow people 21 and older to buy, possess, and grow cannabis. Products would be taxed 10% on top of the sales tax, with revenue going to three state funds and municipalities that have dispensaries. Medical cannabis businesses first proposed the measure in 2021, opting for an initiated statute instead of a constitutional amendment like the failed 2015 legalization effort. They finally secured a spot on this year's November ballot after clashing with legislative leaders who oppose recreational cannabis.
Proponents say Issue 2 would drive out the illicit market and bring in tax dollars that Ohioans are currently sending to Michigan. It would also open doors for companies that sell medical cannabis in Ohio and want to expand their customer base.
However, some in the industry wonder if it benefits Issue 2's benefactors too much. "It's not that much of a head-scratcher. The people that are footing the bill for the initiated statute are obviously going to try to make it favorable to them," said Greg May, a cannabis attorney with the Ohio firm Mac Murray & Shuster. "I don't think that's a mystery or anything. Is it a little too much? Maybe."
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