The Practical Effects of IM 29

Show notes Wade Talkington lives in Sioux Falls, where he and his wife moved from Alabama. Starting in 2015 he was an investor in a medical cannabis dispensary in the Los Angeles area, near Beverly Hills, which later added an adult-use (recreational) license after California voters legalized recreational marijuana. In this conversation he describes what he says happened next: high taxes and compliance costs, an illegal market he says grew to several times the size of the legal one, unlicensed delivery and pop-up shops, and cartel-run grows on public and private land. He supports medical cannabis, but he urged South Dakotans to vote no on IM 29. Recorded in October 2024 and first published Oct. 14, 2024, ahead of that year's general election. Update (Oct. 2026): South Dakota voters rejected IM 29 on Nov. 5, 2024, 55.5% to 44.5% (237,228 votes to 189,916, certified). It was the state's third vote on recreational marijuana in four years: Amendment A passed in 2020 but was struck down in court, and IM 27 failed in 2022. No recreational marijuana measure is on the Nov. 3, 2026 ballot, where the four statewide questions are Constitutional Amendments I, J, K and L. South Dakota's voter-approved medical cannabis program (IM 26, 2020) continues. (Sources are linked below.) The ballot measure - Initiated Measure 29, Marijuana Legalization Initiative, with certified results (Ballotpedia): https://ballotpedia.org/South_Dakota_Initiated_Measure_29,_Marijuana_Legalization_Initiative_(2024) - IM 29: If voters decriminalize marijuana, lawmakers would make the call on sales (Sioux Falls Live, 2024): https://www.siouxfallslive.com/news/south-dakota/im-29-if-voters-decriminalize-marijuana-lawmakers-would-make-the-call-on-sales - South Dakota 2024 ballot measures and results (Ballotpedia): https://ballotpedia.org/South_Dakota_2024_ballot_measures Update sources - 2026 ballot questions (South Dakota Secretary of State): https://www.sdsos.gov/elections-voting/upcoming-elections/general-information/2026%20Election%20Information/2026-ballot-questions.aspx - South Dakota's medical cannabis law, SDCL 34-20G (South Dakota Legislature): https://sdlegislature.gov/Statutes/34-20G Subscribe to Making Waves with Dave Roetman: https://daveroetman.substack.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit daveroetman.substack.com