With midterm elections one year away, a handful of off-year elections this week provided investors with a potential glimpse at where America could be headed in November 2022. What Happened On Tuesday, Glenn Youngkin became the first Republican elected governor of Virginia in 12 years. Youngkin’s victory was particularly surprising given President Joe Biden won Virginia by a 10 percent margin in the 2020 election. In New Jersey, Democratic Gov. Phil Murphy was reelected this week in a race that was much tighter than many experts had anticipated. The cannabis legalization movement also scored some key victories in a red state, suggesting marijuana reform may slowly be becoming a bipartisan issue. Voters in seven Ohio towns voted to decriminalize marijuana, while seven other towns voted down similar measures. The ETFMG Alternative Harvest ETF traded higher by 1.2 percent on the week. Why It’s Important The two high-profile gubernatorial elections suggest …