If New Jersey voters approve legal marijuana Nov. 3, it will be a “tremendous move” for the cannabis market, said Emily Paxhia, co-founder and managing partner at Poseidon Asset Management.
The Garden State is well-populated and well-positioned to apply pressure to other markets, Paxhia said during a panel discussion on the election at Thursday’s Benzinga Cannabis Capital Conference moderated by CNBC’s Tim Seymour.
Cannabis On The Ballot: If the referendum passes, Anderson Economic Group’s Andrew Miller said “one out of every three Americans would live in a state where they can legally purchase recreational cannabis.”
While New York and Pennsylvania are expected to follow suit, some less obvious candidates to legalize medical marijuana in the future are “states that are demographically similar [and] a little more conservative-leaning,” he said.
Mississippi is also poised to legalize medical cannabis in …