Changes in state pot laws are encouraging some cannabis-related companies to go public.
And according to an investor fact sheet for Medical Marijuana Inc. (MJNA), the current U.S. medical marijuana industry is estimated at $17 billion, with expectations it could grow up to about $29 billion by 2016.
If you are an expert on marijuana, and are out of a job, Washington state may be looking for you.
As the state begins to explore regulating their new law legalizing pot, officials are hiring an adviser on all things weed: how it’s best grown, dried, tested, labeled, packaged and cooked into brownies.
Last fall, Washington and Colorado became the first states to pass laws legalizing the recreational use of marijuana and setting up systems of state-licensed growers, processors and retail stores where adults over 21 can walk in and buy up to an ounce of heavily taxed cannabis. Sales are due to begin in Washington state in December.
The National Marijuana Business Conference began on Thursday in Denver, taking advantage of the new legal status of pot in the state. Under Amendment 64, people over 21 can legally posses up to an ounce of recreational marijuana in Colorado and grow six plants in a closed facility, three of which can be flowering at once.
The one ounce rule applies to anything a person has on them outside their facility, so technically they can have whatever they buy plus whatever they can grow. A similar measure was passed in Washington state as well.
The good news for advocates of Amendment 64, namely that the Department of Justice under U.S. Attorney General Eric Holder (at least for now), is not going to stand against it.
The DOJ, in a memo sent to federal prosecutors across the state, effectively declares that they will leave the regulation of marijuana, both medical and recreational, to state and local governments.
The U.N. Office on Drugs and Crime’s “World Drug Report” states that between 119 million
to 224 million of people 18 and older used marijuana in 2010, making it the most consumed
illicit drug in the world. The simple fact is that prohibition doesn’t work.
America is largely responsible for the worlds’ archaic views on cannabis. It all started
with one man, Harry J Anslinger. After prohibition of alcohol had ended, Anslinger was
appointed head of the Federal Bureau of Narcotics.
“Marijuana is an addictive drug which produces in its users insanity, criminality, and death.”
“Reefer makes darkies think they’re as good as white men.”
By using mass media as his weapon, Anslinger propelled his anti-marijuana sentiment to a national movement by spreading false truths, fear, racism and propaganda. By 1937 cannabis became illegal in an act drafted by Anslinger himself.
Legal In Africa?
Looking towards Africa, South Africa maybe the next country after Uruguay to legalize marijuana?
South Africa’s National Drug Master Plan has called for an in-depth study on the need for decriminalizing or legalizing the substance.
Implemented in late June by the Central Drug Authority – South Africa’s drug advisory
board – the CDA describes the Master Plan as the “country’s blueprint for preventing and
reducing alcohol and substance abuse and its associated social and economic consequences
on South African society.