BISMARCK, N.D. (AP) — A ballot initiative to legalize recreational marijuana in North Dakota has qualified for the November election, the state's top election official said Monday. That sets up another vote on the issue in the conservative state after voters and lawmakers rejected previous efforts in recent years.
North Dakota Secretary of State Michael Howe said nearly 19,000 signatures were accepted after his office's review, several thousand more than was needed to earn placement on the ballot. The group that sponsored the measure, New Economic Frontier, had submitted more than 22,000 signatures in early July.
Measure leader Steve Bakken, a Burleigh County commissioner and former Bismarck mayor, said law enforcement resources would be better directed at opioids and fentanyl than marijuana. The initiative also is an effort to head off any out-of-state measure that might have unmanageable results, he said.
The 20-page statutory measure would legalize recreational marijuana for people 21 and older to use at their homes and, if permitted, on others’ private property. The measure also outlines numerous production and processing regulations, prohibited uses — such as in public or in vehicles — and would allow home cultivation of plants.
The measure would set maximum purchase and possession amounts of 1 ounce of dried leaves or flowers, 4 grams of a cannabinoid concentrate, 1,500 milligrams of total THC in the form of a cannabis product and 300 milligrams of an edible product. It would allow cannabis solutions, capsules, transdermal patches, concentrates, topical and edible products.
Marijuana use by people under 21 is a low-level misdemeanor in North Dakota. Recreational use by anyone older is not a crime — but possessing it is, with penalties varying from an infraction to misdemeanors depending on the amount of marijuana. Delivery of any amount of marijuana is a felony, which can be elevated depending on certain factors, such as if the offense was within 300 feet (91 meters) of a school.
In 2023, 4,451 people statewide were charged with use or possession of marijuana, according to North Dakota Courts data requested by The Associated Press.
North Dakota voters approved medical marijuana in 2016 but rejected recreational initiatives in 2018 and 2022. In 2021, the Republican-led state House of Representatives passed bills to legalize and tax recreational marijuana, which the GOP-majority Senate defeated.
Republican state Rep. Matt Ruby, who was a member of the sponsoring committee, said in a statement that the priority now will be to tell voters about the economic growth opportunities, the more effective approach to regulation and easier access to medical marijuana.
“Our goal now is to educate voters on why we believe this to be a great step forward for our state,” he said.
The Brighter Future Alliance, an organization opposed to the measure, said in a statement that the supporters “won't take no for an answer" after multiple defeats.
“The people of North Dakota soundly rejected the idea of recreational marijuana in 2018 and 2022, but here they are again,” said Patrick Finken, the group's chair.
Burleigh County Sheriff Kelly Leben pointed to “detrimental impacts” in states where recreational marijuana is legal, saying, “Legalized marijuana increases crime, increases DUIs and increases illegal drug trafficking of harder drugs. In fact, with more users, illegal sales increase, not decrease.”
Twenty-four states have legalized recreational marijuana for adults. Ohio did so most recently, by initiative in November 2023. Measures will be on the ballot in Florida and South Dakota in November.
In May, the federal government began a process to reclassify marijuana as a less dangerous drug.
FILE - Steve Bakken, left, and Casey Neumann, of the New Economic Frontier ballot initiative group, carry boxes containing petitions to the Secretary of State's Office on Monday, July 8, 2024, at the state Capitol in Bismarck, N.D. (AP Photo/Jack Dura, File)
NEW YORK (AP) — Wall Street is quieter on Friday, and U.S. stocks are edging back from the records they set the day before during a worldwide rally.
The S&P 500 was 0.3% lower in morning trading but still on track for its fifth winning week in the last six. The Dow Jones Industrial Average was down 71 points, or 0.2%, after it likewise set an all-time high the day before. The Nasdaq composite was 0.3% lower, as of 10:30 a.m. Eastern time.
FedEx dragged on the market with a drop of 14.8% after its profit and revenue for the latest quarter fell short of analysts’ expectations. It said U.S. customers sent fewer packages through priority services, while it had to contend with higher wages for workers and other costs. FedEx also cut its forecast for revenue growth for its fiscal year.
Helping to limit the market's losses was Nike, which ran 5.4% higher after it named Elliott Hill as its chief executive. Hill, 60, had spent more than three decades at Nike in various leadership positions before retiring in 2020. He replaces the retiring John Donahoe.
Shares in Trump Media and Technology Group slumped another 6.8% as its biggest shareholder, former President Donald Trump, won the freedom to sell his shares if he wants.
Trump owns more than half of the nearly $3 billion company behind the Truth Social platform. But Trump and other insiders in the company had been unable to cash in because a “lock-up agreement” prevented them from selling any of their shares. Before the lockup expired, Trump said he was in no rush to sell.
TMTG stock has dropped below $14 from more than $60 in March, and its decline Friday was in line with its volatile history. Over the last six months, it’s often swung by at least 5% in a day, up or down.
Homebuilder Lennar fell 4.6% after delivering a mixed earnings report. Its profit for the latest quarter topped expectations. But it also said it made less in profit on each $100 of home sales, and it expects that margin to stay flat in the current quarter.
Conditions may be set to improve for homebuilders, though. The Federal Reserve earlier this week cut its main interest rate for the first time in more than four years, with more likely to come. That could make mortgages more affordable for home buyers.
The momentous move closed the door on a run where the Fed kept its main interest rate at a two-decade high in hopes of slowing the U.S. economy enough to stamp out high inflation. Now that inflation has fallen from its peak two summers ago, Chair Jerome Powell said the Fed can focus more on keeping the job market solid and the economy out of a recession.
The Fed is still under pressure because hiring has begun to slow under the weight of higher interest rates. Some critics say the central bank waited too long to cut rates and may have damaged the economy.
Critics also say the U.S. stock market may be running too hot on hopes that the Federal Reserve will be able to pull off what earlier seemed nearly impossible: getting inflation down to 2% without creating a recession.
Barry Bannister, chief equity strategist at Stifel, is still calling for a sharp drop for the S&P 500 by the end of the year. He points to how much faster stock prices have climbed than profits at companies. When stocks have looked this expensive on such measures in the past, he said a recession and sharp downturn for stocks has followed.
He also warned in a report that slowing hiring “is now symbolic of recession risk.”
No economic releases are on the calendar for Friday to show where the economy may be heading. Next week will have preliminary reports on U.S. business activity, the final revision for how quickly the economy grew during the summer and the latest update on spending by U.S. consumers.
In the bond market, the yield on the 10-year Treasury rose to 3.75% from 3.72% late Thursday.
In stock markets abroad, indexes dropped across much of Europe after rising in Asia. Tokyo’s Nikkei 225 rose 1.5% after the Bank of Japan left interest rates steady, as was expected.
In China, the central bank left key lending rates unchanged on Friday. Indexes rose by 1.4% in Hong Kong and less than 0.1% in Shanghai.
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AP Writers Matt Ott and Zimo Zhong contributed.
A bus passes the Wall St. subway station on Wednesday, Sept. 18, 2024, in New York. (AP Photo/Peter Morgan)
Trader Michale Conlon, right, works on the floor of the New York Stock Exchange as Federal Reserve Chair Jerome Powell's news conference appears on a television screen behind him, Wednesday, Sept. 18, 2024. (AP Photo/Richard Drew)
A person walks in front of an electronic stock board showing Japan's Nikkei index and Japanese Yen exchange rate at a securities firm Friday, Sept. 20, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Sept. 20, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
People ride bicycles in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Sept. 20, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person rides a bicycle in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Sept. 20, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
