California Democrats Support Pot Legalization

NEW YORK (TheStreet) -- California Democrats voted Sunday to make legalization of marijuana an official part of their platform.

According to the platform cited in The Los Angeles Times, the state's Democrats officially "support the legalization, regulation and taxation of marijuana, in a manner similar to that of tobacco or alcohol."

The San Francisco Chronicle called the decision a "major shift" given that Governor Jerry Brown had recently expressed reservations about the move to legalize pot. Also, legalization groups in California who had been targeting legalization this year decided to hold off until 2016. 

But with Sunday's decision it appears only a matter of time before California follows Colorado and Washington State to decriminalize recreational marijuana use. Other states, including Oregon, New Hampshire, Maine, and even Alaska-a blue state with a strong libertarian streak, are also widely viewed as close to legalizing pot. 

Follow @dan_freed

Related:The 5 States Most Likely to Legalize Pot Next

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Stocks

Tyson Foods CEO: We Aren't Done Making Deals

Tyson Foods CEO: We Aren't Done Making Deals

Dow Drops Over 100 Points on Trade War Worries

Dow Drops Over 100 Points on Trade War Worries

Warren Buffett at Age 87 Still Does One Amazing Thing That Drives Success

Warren Buffett at Age 87 Still Does One Amazing Thing That Drives Success

Amazon, Nvidia, Micron and 10 Other Stocks to Own in June

Amazon, Nvidia, Micron and 10 Other Stocks to Own in June

3 Great Stocks for Retirees to Own

3 Great Stocks for Retirees to Own