Voters approve marijuana legalization in 4 states

Why it matters: Legalization in additional states could be a big opportunity for the marijuana industry, and new tax revenue from potential sales could help states and cities balance budgets hit hard from the coronavirus pandemic.

• Oregon legalized psychedelic mushrooms, and they were decriminalized in D.C.
• Mississippi legalized marijuana for medical use, joining 33 states.

In addition, Oregon voters on Tuesday passed a measure to decriminalize the possession of street drugs and will no longer arrest or sentence those carrying small amounts of drugs like cocaine, heroin, oxycodone and methamphetamine.

• The ballot Measure 110 will also direct millions of dollars in tax revenue for addiction treatment facilities and a state-supervised fund that will pay for drug programs, treatment and housing.