Online Marketplaces Will Benefit from November 2020 Sports Betting Ballot Initiatives

Online stakeholders in the sports betting market have made policy inroads from the November 2020 ballot initiatives. Below are three states that expanded sport betting capabilities.   

Maryland: The State of Maryland has joined both Virginia and the District of Columbia in legalizing sports betting. Voters passed Ballot Question 2 which allowed for legalized sports betting while having the revenue generated from this to go towards funding public education.

Louisiana: The State of Louisiana approved sports betting in the major cities of Baton Rouge, New Orleans and Lafayette. The following parishes approved the measure as well including: St. Tammany, Jefferson, Ascension, Livingston, St. Bernard, West Baton Rouge, Plaquemines, St. Charles and Terrebonne parishes.

South Dakota: Voters in South Dakota have allowed sport betting as early 2021. By approving Amendment B  sports betting is legal in the city of Deadwood as well as the state’s Native American gaming facilities.

Lanton Law’s fintech and online marketplace practice helps stakeholders understand and navigate regulatory complexities. Contact us today to learn more about how our services can help you.  

November Election Yields Gains for Marijuana Legalization

The result of a few November 3, 2020 election ballot measures have yielded additional gains for marijuana. 

New Jersey: In New Jersey voters approved Question 1, which legalized recreational marijuana.

Arizona: Voters in Arizona approved Proposition 207 which legalizes possession and use of marijuana for adults, age 21 years or older, in Arizona and permits individuals to grow up to six marijuana plants in their residences.

South Dakota: The state has legalized marijuana possession and use for adults 21 and older. It also allows individuals to grow up to three plants if they live in a jurisdiction with no licensed marijuana retailers. It allows distribution and sales, with a 15 percent tax. Additionally, the state legislature would have to pass legislation legalizing medical marijuana and the sale of hemp by April 1, 2022.

Mississippi: Initiative 65A was passed, which restricts medical marijuana to terminally ill patients and would require pharmaceutical-grade marijuana products to have oversight by licensed physicians, nurses, and pharmacists.

Montana: Montana has passed two constitutional amendments regarding marijuana. CI-118 allows for the state legislature or a ballot initiative to set a legal age for marijuana use. Additionally, I-190 allows for marijuana possession use and growing for adults 21 or older. The measure allows for the creation of a regulatory scheme around growing and selling cannabis and imposes a sales tax on these goods.

Lanton Law’s Cannabis practice is more than prepared to assist cannabis stakeholders. Whether you are a public or private cultivator, processor, distributor, dispensary, or an ancillary service related to the medical and/or adult-use cannabis business, we can help. 

Lanton Law assists our cannabis clients with the following services:  

• Offer strategic advice on the federal and state outlook

• Contract and lease drafting

• Corporate formation & governance

• Shareholder agreements

• Administrative representation

• Trademarks and copyrights

• FDA, USDA and FTC regulatory compliance 

• Banking and finance

• Licensing

• State and local permits

• Lobbying 

• Investor & early stage company issues

• Mergers and acquisitions

• Non-Compete and Non-Disclosure agreements

• Labor and employment

• General counsel services