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NJ decriminalization referendum update

New Jersey voters will decide if pot should be decriminalized in the November 3 election. Every indication is that the decriminalization measure will pass.

One of the loudest opponents of the New Jersey decriminalization ballot referendum also happens to be (presumably) one of the largest black market operators. No surprise there. The vote will disrupt his business model.

The largest spender advocating for passage of the measure is a large privately owned lawn fertilizer company, that has established a home-grow division to accommodate the new emerging market.

But the big point here, IMO, is that if you take both points together than you can begin to form an opinion that the new pot industry may not generate as much tax revenue as forecast. But will it generate more tax and licensing prosecutions? Absolutely.

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