While this has not been the most pleasant week for many, select companies have done well amid coverage of changing election results.
According to the Los Angeles times, Suppliers of weed, pizza and alcohol were “the real election winners” from 2020:
On-demand alcohol delivery service Drizly said sales averaged 68% higher than the last four Tuesdays. Washington, DC sales rose 133%; in New York City 110%; and in LA 35%. In the blue states Drizly operates in, sales increased 75% compared to the previous four Tuesdays. in red states they rose by 33%. “
Meanwhile, weed delivery company Eaze saw an 18% increase over the previous Tuesday, the Times reported, and pizza restaurants in the area saw tremendous gains and record sales.
Business issues aside, government legalization efforts made 2020 a historic choice for the weed industry, which swept initiatives in New Jersey, Arizona, South Dakota, Montana, and Mississippi.
As Law360 notedElection victories bring the total number of states legalizing recreational cannabis to 15, with South Dakota being the first state to move directly from banning to adult legalization, without the intermediate step of legalizing for medical purposes and Mississippi voters who approve medical marijuana.
The biggest win for proponents was the Garden State, which became the first mid-Atlantic state to fully legalize adult marijuana. Voter approval of Public Issue 1 is putting pressure on New York and other states in the densely populated region to follow suit. “
In a shame for New Jersey residents, the attorney general issued a guide Wednesday stating that possession of weeds outside of New Jersey’s medical marijuana program is illegal under state law for the time being.
Real election winners: sellers of pizza, alcohol and weed [Los Angeles Times]New Jersey, Arizona. Legalize Pot In Ballot Measure Sweep [Law360]Pot’s election victories bode well for the future of reform [Law360]