Minnesota Gov. Tim Walz, a Democrat, said late Thursday he plans to sign a freshly-introduced HF 100 cannabis legalization measure in the state legislature. “It’s time to legalize adult-use cannabis and expunge cannabis convictions in Minnesota,” Walz said on his Twitter feed on Thursday. “I’m ready to sign it into law.” Minnesota legislator Aisha Gomez said at a press conference that the state will avoid overly high taxes on cannabis, according to reports. Minnesota lawmakers have attempted to pass similar legislation, but the state senate has yet to OK it. This year, however, Democrats have a majority in both chambers. At last count, 37 U.S. states have medical programs and 21 allow adult-use cannabis.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.