A measure to allow adults 21 and older to consume cannabis has cleared both houses of the Rhode Island state legislature and now awaits a signature from Gov. Daniel J. McKee. McKee is expected to sign the bill into law as early as Wednesday, making Rhode Island the 19th state to legalize cannabis, according to reports. Lawmakers in the House approved the bill by a vote of 55 to 16. It cleared the Senate by a vote of 23 to 6. State Sen. Joshua Miller and Rep. Scott Slater, both Democrats, were the chief sponsors of the measure, which also includes expungement of people convicted of marijuana infractions. The law would allow legal cannabis sales to adults starting on Dec. 1. The AdvisorShares Pure US Cannabis ETF fell 3.7% on Tuesday and is down 46% in 2022.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
