California voters approved a ballot measure that allows residents to possess and use recreational marijuana, according to projections. In early returns, California voters approved Proposition 64 by a margin of 54.3% to 43.7%. The Associated Press projected that the proposition would pass less than 15 minutes after polls closed in the state. California was the third state in the nation to approve such a measure Tuesday night, after Florida and North Dakota efforts also passed. Three states had already voted to declare recreational marijuana use and possession legal: Colorado, Washington and Oregon.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News