Top lawmakers and Governor Phil Murphy have finalized a deal in New Jersey to legalize recreational marijuana.
Shares of pot stocks were climbing ont he news, as Wall Street learned that there could be a potential vote by the end of the month according to NJ.com.
Both houses of the New Jersey legislature are expected to vote on the bill March 25th.
Should the bill pass, which is still being worked on, New Jersey would become the second state, after Vermont, to legalize marijuana through the legislative process.
Assembly Speaker Craig Coughlin stated, “I think it’s most important that we get this right. We’re doing something that’s a seismic shift in public policy and we’re creating a new industry. I think that demands we get both of those things right.”
Murphy would then need to sign the bill for it to become law.
“Legalizing adult-use marijuana is a monumental step to reducing disparities in our criminal justice system,” Murphy said in a press release. “After months of hard work and thoughtful negotiations, I’m thrilled to announce an agreement with my partners in the Legislature on the broad outlines of adult-use marijuana legislation.”