Full legalization has bipartisan support in Louisiana but the House Bill 699 lost by a vote of 48-47 in late May 2021. A Bill to remove jail time and limit fines for possession was signed into law in June of 2021. The Governor also signed a Bill in June 2021 to allow smokeable flower as part of their restrictive medical marijuana program.
This market is still in its infancy. Watch for Louisiana to relax medical conditions before state revenue becomes attractive enough for serious investment or acquisition.