Legal Marijuana Sales Set To Quadruple By 2018
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Legal Marijuana Sales Set To Quadruple By 2018
Posted by CN Staff on April 09, 2013 at 05:40:51 PT
By Caroline Fairchild
Source: Huffington Post
USA -- U.S. legal marijuana sales are projected to hit $1.5 billion this year, and that could look like nothing in just a few years. Data from Medical Marijuana Business Daily shows that total sales could quadruple to $6 billion by 2018 on the back of legalization efforts in Washington and Colorado, as well as the growing medical marijuana industry.The two states both legalized the recreational use of weed in November. Elsewhere, 18 states and Washington, D.C. have made medical marijuana legal, while 10 others have formal measures pending to legalize medical marijuana, according to the National Cannabis Industry Association.
That's reflective of a wider acceptance of the drug. A recent Pew Research Center poll discovered a majority of Americans support pot legalization for the first time in more than four decades. As many as 52 percent of Americans support legalizing weed -- 45 percent do not -- and nearly three-fourths say the amount of money spent enforcing marijuana usage laws is not worth the cost.Such growing support has led marijuana-tied businesses to pitch their companies to Wall Street investors, the Los Angeles Times reported in March. Take Vincent Mehdizadeh, founder of MedBox, an automated weed dispensing machine company. He's seeking $20 million from investors in anticipation of potential expansion."Everybody's loosening up a lot because they realize the momentum has shifted and the financial world is going to have to make room for this industry," Mehdizadeh told the LAT. "Wall Street and investment banks are going to have to come along for the ride, eventually."Thinking about investing in the marijuana industry yourself? Be sure to keep the risks in mind. It was reported last year that 500 of the estimated 3,000 U.S. marijuana dispensaries either had been closed by the government or shut down in the past year. Source: Huffington Post (NY)Author: Caroline FairchildPublished: April 8, 2013Copyright: 2013, LLC Contact: scoop huffingtonpost.comWebsite: -- Cannabis Archives 
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Comment #7 posted by Hope on April 10, 2013 at 18:57:44 PT
Legalization... as it goes.
I hope it goes well. Like many always dreamed. That it will be better in these places for everyone. There will be more jobs and better workers and peace and hope. This new restoration of an old freedom can make the world a better place in the places where this is happening.Do well. Thrive. Show everyone a better place and a better world and a better people with better lives and better futures because of this re-legalization. Please!
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Comment #6 posted by truth420 on April 09, 2013 at 21:25:01 PT
It's going to be tough for the average medical/recreational user to relocate to a 'green' state in this economy. Those states will be seen more and more as refuges as the laws change for the better in those places and remain as unjust as ever in other states.
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Comment #5 posted by The GCW on April 09, 2013 at 19:49:24 PT
Marijuana Legalization Bill Moving in OregonAn Oregon bill that would legalize marijuana was approved by the House Judiciary Committee Wednesday on a 6-3 vote after hearing testimony that same day. That marks the first time any Oregon marijuana legalization measure has won a committee vote. The bill now heads to the House Revenue Committee.The bill, House Bill 3371, would legalize marijuana possession for adults 21 and over, provide for the cultivation of a small number of plants without regulation, and set up a system of taxation and regulation of marijuana commerce.Cont.
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Comment #4 posted by mexweed on April 09, 2013 at 18:14:46 PT:
More Marley, Less Money
Please don't overrate the moneybags factor. Legalization will mean nobody is afraid to own and carry a one-hitter (25-mg serving size) instead of the WASTEFUL but easy to hide 500-mg "joint", "blunt" etc. This will mean REDUCED net quantities used even while more users join in. Millions will raise their own just one or two plants too.
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Comment #3 posted by FoM on April 09, 2013 at 15:17:45 PT
That is good news.
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Comment #2 posted by sinsibility on April 09, 2013 at 15:03:49 PT
PA Senate Bill 528!
PA State Senator Daylin Leach has introduced his bill to regulate cannabis through the state liquor control board.If you live in Pennsylvania, tell your reps to support this legislation.
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Comment #1 posted by FoM on April 09, 2013 at 11:51:02 PT
The Evolution of Marijuana Laws
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