Full legalization has bipartisan support in Louisiana but the House Bill 699 lost by a vote of 48-47 in late May 2021.
The currently medical legislation is extremely restrictive. Flower and edibles are prohibited at this point, making Louisiana one of the least attractive US markets. Expect Louisiana to follow suit with the rest of the south in the near future.
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.