Texas Has Huge Potential But Several Obstacles

The United States is on a collision course with federal cannabis legalization with over 50% of states currently having some form of a legalized cannabis program. Major states such as Florida and New York are currently refining and rolling out programs for medicinal use, with recreational programs in their sights but without a timetable as to when those will commence.

Everything Is Bigger In Texas Right?

One state that will be a major win for the industry is Texas, the second largest state by size, population, and GDP. As such, Texas is an important piece of the puzzle for it brings federal legalization full circle. Texas’ population holds vast amounts of wealth from highly lucrative industries. We expect this capital to find its way into the industry once the foundation is set.

The 85^th Texas legislative session that ended in May, left two cannabis reform bills on the table as the session ended before the bills could be voted on. These bills sought to decriminalize possession of small amounts of cannabis and create a real medicinal cannabis program. Failure to pass these bills has Texans looking forward to the 2018 midterm elections and 2019 new legislative session as this will be the next opportunity to have the legislation passed into law.

A Tough Crowd

Converting Texans into cannabis advocates is no easy task as the state is dominated by conservative republicans. Heather Fazio, spokeswoman for the Texas branch of the Marijuana Policy Project believes that cannabis reform is not a Republican vs Democrat issue. She believes that the core message for cannabis reform to resonate with Texans is – more personal liberty, less government intrusion – which is the Texas way.

The Lone Star at the End of the Tunnel

Cannabis has never been more popular in the U.S. According to a survey commissioned by the Marijuana Majority, 76% of Americans support legalizing recreational cannabis use. Texas itself is at an all-time high when it comes to medicinal cannabis as a UT/Texas Tribune poll from February found that 83% of Texans support legalizing medicinal cannabis.

We are keeping a close eye on the lone star state and hope to see a shakeup in their midterm elections that would indicate a more favorable cannabis caucus. 

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Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Mushroomstocks.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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