The Only Defense Stock You Should Be Watching

In multiple wargames, U.S. forces were overwhelmed and unable to stop Chinese amphibious assaults from seizing the island. With tensions at a boiling point, the economic fallout could be devastating. Get the details on the weapons makers set to boom if war breaks out.

South Dakota's Adult-Use Cannabis Legalization Ballot Sparks Major Funding Race

Patricio Liddle
November 03, 2024

In a neck-and-neck financial race, both proponents and opponents of South Dakota’s adult-use cannabis legalization initiative have amassed nearly equal funds, setting the stage for a heated debate ahead of the November 5 ballot. Campaign contributions have surged from both sides, raising a total of about $915,000, which highlights the state’s sharply divided stance on this issue.

Key Donors Fuel South Dakota's Legalization Debate

Proponents of the marijuana legalization ballot measure, Initiated Measure 29, have amassed approximately $458,000 in contributions, largely fueled by the cannabis industry, according to the South Dakota Searchlight. The principal proponent, Yes on 29 Ballot Committee, reported taking in $436,000, with about $300,000 stemming from businesses within the cannabis sector. The largest donation, $100,000, came from GL Partners Inc., a medical marijuana dispensary in Rapid City.

  • Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you’re serious about the business, you can’t afford to miss out.

On the opposing side, the Protecting SD Kids Ballot Question Committee has raised a comparable $457,000, with a significant portion coming from individual donors. Brad Wheeler, a local manufacturer, made the largest individual contribution of $61,400. Contributions from South Dakota-based businesses also played a crucial role, adding $71,000 to the opposition’s fund.

Competing Sides Ramp Up Spending Efforts

This financial tug-of-war underscores the intensity of the debate surrounding Initiated Measure 29, which proposes to legalize the possession, use and distribution of up to 2 ounces of marijuana for adults over 21. It is one of seven statewide ballot questions that South Dakotans will decide on.

Both campaigns have been active in leveraging their funds. The Yes on 29 committee has already spent $217,000 on various advocacy efforts, while the opposition has expended $371,000 in activities aimed at curbing the measure’s passage.

Read Also: North Dakota Ad Campaign Backs Adult Use Cannabis Legalization, Eyeing Economic Gains

Campaign finance reports reveal that the cannabis industry’s investment in legalization efforts continues to be a significant factor in ballot measures across the U.S. Meanwhile, grassroots donations and local business support remain pivotal for those opposing such measures.

As the campaign enters its final days, the nearly even financial playing field suggests a tight race to the ballot box. Both sides are ramping up their efforts to sway voters, knowing that the outcome could have far-reaching implications for marijuana policy in the state.

Economic Gains Drive Cannabis Debate Nearby

Neighboring states North Dakota, Nebraska and Montana each reflect a variety of approaches to cannabis reform that influence South Dakota's own legalization debate. While Montana reaps substantial tax revenue from legalized cannabis – over $118 million in two years – North Dakota is eyeing similar gains through Measure 5, targeting economic benefits and job growth. Nebraska, however, remains without legalization efforts, underscoring regional divides on cannabis reform as states weigh economic advantages against conservative values.

With no cap on donation amounts, South Dakota's marijuana legalization debate signals a high-stakes vote next week.

Read Next:

  • Cannabis Stocks Sink Amid Broader Market Decline And Election Jitters

Image created with AI tools.

Continue Reading...

Popular

Elon Musk Want His 11 Kids, Their Mothers To Live In Secret Compound He Bought, New Report Says

Elon Musk could be building a new family compound made up of several mansions to house his children and their mothers, according to a new report.

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Trump Has Asked Me To Do 3 Things, Says Robert Kennedy Jr.

Robert Kennedy Jr. revealed Trump's directive to tackle health agency corruption, promote science, and end chronic disease.

Trump's Historical Hiccup: A Tale Of MyPillow Guy Mike Lindell, Al Capone, And Confusion

Trump delivered a disjointed speech that included a bizarre tale about Mike Lindell and Al Capone, leaving the crowd puzzled but urging supporters to vote.

Crypto Profit Floodgates Open With Trump Presidency - Ad

As Bitcoin heads towards $100k, this video shows you how to make HUGE gains from Crypto's $82 Billion 'Trump-Pump'...Without buying a single Bitcoin! But you must get in before January 20th -- Trump's inauguration day -- for the biggest gains...

A promising schizophrenia drug showed mixed results. What does that mean for patients?

Some people who took a new schizophrenia drug for a year improved with only a few side effects, but many dropped out of the research, the company announced Thursday.

Wall Street Legend Issues Inauguration Buy Alert - Ad

If you've underperformed this raging bull market, if you've lost money or missed out... this is your final chance to potentially profit.

US Steel Reports Better-Than-Expected Q3 Results, Aims To Close Nippon Steel Deal By Year End

U.S. Steel reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.

Elon Musk Joined Trump's Call With Zelenskyy

Elon Musk was a surprise guest on a phone call between President-elect Donald Trump and Ukrainian President Volodymyr Zelenskyy.

3 Cryptocurrencies Better Than Bitcoin - Ad

According to Ian King, the election re-opened the crypto profit floodgates for all Americans. In this new presentation, Ian explains why the election has set off these 3 specific BETTER than bitcoin cryptocurrencies.

Will people leave Florida after devastating hurricanes? History suggests not

ORLANDO, Fla. (AP) — The news rippled through Treasure Island, Florida, almost like a third storm: The mayor planned to move off the barrier island a month after flooded tens of thousands of homes along the Gulf Coast and two weeks after also ravaged the state.

At least 11 employees injured in explosion at Kentucky business

LOUISVILLE, Ky. (AP) — At least 11 employees were taken to hospitals and residents were urged to shelter in place on Tuesday after an explosion at a Louisville, Kentucky, business.

Have You Heard of Donald Trump's Project Crypto? - Ad

Donald Trump aims to be America's first crypto president. Declaring at the Bitcoin conference in Nashville that the U.S. would become ..."the crypto capital of the planet." But, there's a special coin he hasn't mentioned that could soar even higher.

Lyft pays $2.1 million to settle case alleging the ride-hailing service deceived drivers

SAN FRANCISCO (AP) — Lyft is paying $2.1 million to settle a lawsuit accusing the ride-hailing service of exaggerating how much money drivers could make while the company was trying to recover from a steep downturn in demand during the pandemic.

Astera Labs Stock Is Ripping Higher Today: What's Going On?

Astera Labs Inc. (NASDAQ: ALAB) shares are trading higher Tuesday after the company posted strong third-quarter financial results. Here's what you need to know.

[Breaking] Classified Wargames Reveal Grave Threat From China - Ad

In multiple wargames, U.S. forces were overwhelmed and unable to stop Chinese amphibious assaults from seizing the island. With tensions at a boiling point, the economic fallout could be devastating. Get the details on the weapons makers set to boom if war breaks out.

FBI Investigating Racist Text Message Campaign Following Election

The FBI is investigating a series of offensive and racist text messages targeting various communities in the wake of the presidential election.

How Trump's Tax Cuts, Tariffs, 'Animal Spirits' Could Shape S&P 500 Earnings

Trump's pro-business policies, including tax cuts and deregulation, could drive S&P 500 earnings higher by 11% in 2025 and 7% in 2026, but tariffs on Chinese imports pose a downside risk.

Elon Musk: "AI Will Run Out of Electricity ... in 2025" - Ad

This AI boom is going to push America's power grid to the brink... Elon Musk even recently said that AI could run out of electricity by 2025. This crisis may just reveal one of the greatest investment ideas we are ever going to find. My research has recently uncovered two companies that could make a massive difference today.

Harris Campaign's Election-Eve Concerts Could Hit $20M Amid Fears Of Unpaid Bills

Vice President Kamala Harris' campaign is facing scrutiny for reportedly spending a whopping $20 million on election-eve concerts.

What's Going On With Shopify Stock Monday?

Shopify Inc. (NYSE:SHOP) shares are trending and moving higher on Monday. The company is due to release earnings before the market opens on Tuesday. Here's what you need to know.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Chevron Q3 Earnings: Production Boost By PDC Energy & Permian Basin, Targets $2-$3 Billion In Structural Savings By 2026

Chevron Corp reported Q3 results, with adjusted net earnings of $4.53 billion, and a quarterly dividend of $1.63 per share. The company plans to reduce costs and divest assets to improve performance.

The Real Hillbilly Elegy - Ad

Obama and Biden's "War on Coal" has left nothing but devastation in its wake. In the beautiful hill-towns of Appalachia, unemployment is sky-high, wages are at record lows. Addiction has overwhelmed these once thriving coal towns. But in a strange twist of fate, something incredible is taking place. A breakthrough that could end America's energy woes and send one government-backed stock climbing.

Financial market worries over the UK budget appear to ease

LONDON (AP) — Worries about this week's within financial markets appeared to ease Friday with the interest rates charged on British debt steadying and the pound rising against most other currencies.

Retail sales up solidly in October as Americans showed continued willingness to spend

WASHINGTON (AP) — U.S. retail sales rose last month at a healthy pace in the latest sign that consumer spending is driving the economy's steady growth.

This Weight Loss Drug Loophole Is Set to Make Investors Incredibly Wealthy - Ad

Thanks to this rare FDA loophole, the world's most in-demand weight loss drugs have effectively just gone "off patent" for a short amount of time... Creating a once-in-a-lifetime profit window for investors.

Warren Buffett's Apple Stake Reduction Spurs $97B Cash Surge—Analysts Speculate This Could Be The Reason Behind Berkshire Hathaway's Massive Cash Pile

Warren Buffett, the legendary investor, has made a significant move by reducing his stake in Apple Inc. (NASDAQ: AAPL) and other stocks, generating a whopping $97 billion in gains for his company, Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B).

Root Stock Is Soaring Thursday: What's Going On?

Root, Inc. (NASDAQ: ROOT) shares are trading higher Thursday after the company reported better-than-expected third-quarter earnings. Here's what you need to know.

Bill Gates' Mysterious New AI Project Revealed - Ad

Tech expert Jeff Brown uncovers Bill Gates' latest AI project, Stargate, which Forbes claims could reshape everything we think we know about our world.

Chinese EV Maker BYD Edges Closer To Ford's Sales Volume After Beating Tesla In Revenue Race

Chinese EV maker BYD Co Ltd is closing in fast on Michigan-based Ford Motor Co's global sales despite the former not manufacturing combustion engine vehicles.

Trump Presidency Just Set Off These 3 Cryptocurrencies - Ad

According to Ian King, the election re-opened the crypto profit floodgates for all Americans. In this new presentation, Ian explains why the election has set off these 3 specific BETTER than bitcoin cryptocurrencies.

Japan's SoftBank returns to profit after gains at Vision Fund and other investments

TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.

AI Market Shock Coming November 19th? - Ad

Jeff Brown predicts an AI market shift, potentially happening by November 19th, led by Bill Gates' Stargate project. Get ahead of the curve before the next AI market shock.

Who will buy Infowars? Both supporters and opponents of Alex Jones interested in bankruptcy auction

Infowars broadcasts could end next week as he faces a court-ordered auction of his company's assets to help pay the more than he owes families of victims of the Sandy Hook Elementary School shooting.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service