Cannabis companies provided nearly all the money behind the five legalization initiatives in last November’s midterm elections, representing a dramatic shift from a decade ago when marijuana reform’s principal bankrollers were advocacy groups and wealthy individuals.
According to campaign finance records, the adult-use legalization campaigns in Arkansas, Maryland, Missouri and North and South Dakota raised nearly $20 million combined.
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At least $19.05 million, or 95% of the total, came from sources identifiable as cannabis industry businesses, the latest campaign finance records show.
The spending data reflects the growing financial heft of the $33 billion U.S. marijuana industry, which scored mixed results last November with two victories and three losses.
This shift has also signaled new priorities, with existing medical marijuana companies pushing for limited-license markets in adult-use states, in contrast to past advocacy-driven campaigns that merely asked voters to treat marijuana like alcohol, with other details
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