New Jersey voters show strong support for legalizing marijuana: Poll

New Jersey voters are in favor of pardoning Governor Murphy's low-level marijuana convictions, according to a new Brach Eichler poll. Yahoo Finance's Zack Guzman shares the details.

Video Transcript

ZACK GUZMAN: New Jersey Public Question 1, it's one of only five states here on Election Day leaving the question of cannabis legalization to voters in their respective states. And the latest polling there showing the Question 1 has strong support with 65% of the vote there compared to 29% opposing it in New Jersey. That would mean that the state is getting set up here to legalize cannabis, the sale of cannabis, beginning January 1 in 2021 if that gets passed, according to that polling data from cannabis law firm Brach Eichler.

So interesting to see that play out, because of course, Kamala Harris here already as the co-sponsor of the MORE Act, that would legalize it at the federal level. But outside of that and how the Senate races go here, states are still going to be answering this question today as well. New Jersey, the biggest one in terms of the market size, could be an additional $9 billion coming to the US market size in cannabis, is something I think that a lot of people should be tracking here will show how the cannabis stocks play out.