Now that New Jersey voters have approved recreational marijuana legalization, NJ Senator Cory Booker is pushing for the incoming Biden administration to go further and support federal-level legalization. Booker says that Biden’s support for decriminalizing pot and expunging criminal records—a policy that stops short of nationwide legalization—is “not enough.” His comments reflect growing strains in the Democratic Party concerning drug laws, with the progressive wing advocating more far-reaching cannabis reform, and moderates backing Biden’s approach, which also includes legalizing medical marijuana and letting states decide on their own about recreational.
Meanwhile, as the New Jersey state legislature hammers out laws to regulate the new marijuana market, big cannabis companies and startup entrepreneurs are laying the groundwork to set up shop in the state. The market could be huge, as New Jersey is the most populous state in the region that permits cannabis sales, and is expected to attract buyers from neighboring New York and Pennsylvania, which are also considering legalization measures.
Analysts say, however, that the likely tax structure wouldn’t leave much room to fund new programs—as pro-pot groups have promised—as most of the money would go toward law enforcement to deal with wider access to the drug.