Over the past year, we have heard statements such as “the marijuana industry is going to be big” over and over again. The marijuana industry is not going to be big. The marijuana industry IS big. Recent projections from Marijuana Business Daily value the legal cannabis industry at $11 billion. They project that the cannabis industry will be a $30 billion industry by 2019. This is much higher than their previous estimates.
The United States has a problem. Many states are cash poor and are struggling to find new sources of revenue not detrimental to the environment and which create jobs. Colorado, however, has the solution to this problem and it is called marijuana.
During 2014, Colorado generated $700 million in revenue from marijuana ($385.9 million from medical and $313.2 million from recreational), however, those numbers will be nothing compared to what the state generates during 2015.
On Monday, the Louisiana State Senate passed a bill that takes the state one step closer to allowing pharmacies to sell medical marijuana to registered patients. The bill authorizes one grower and ten dispensaries across the state. It limits the use of medical marijuana to patients who suffer from glaucoma, spastic quadriplegia and for those undergoing chemotherapy.
President Obama recently said, “I think carefully prescribed medical use of marijuana may in fact be appropriate and we should follow the science as opposed to ideology on this issue."
Yesterday, the Louisiana Senate Health and Welfare Committee approved legislation to develop rules and guidelines for the production and sale of medical marijuana.
Louisiana’s Republican State Senator Fred Mills sponsored Senate Bill 143. The bill gives the Louisiana Board of Pharmacy the authority to develop the rules to regulate a tightly constrained dispensary system.
On Tuesday, Texas state lawmakers listened to an emotional hearing pertaining to a bill that that would legalize cannabis oils containing cannabidiol (CBD). The bill would allow patients suffering from epilepsy access to the drug. Cannabidiol is a non-euphoric component of marijuana that is known to treat epilepsy and other chronic medical conditions
Joe Rogan said it best: The only reason why marijuana is illegal is because of economics. If marijuana was legal, it would cost pharmaceutical and alcohol companies billions of dollars every year. The Partnership for a Drug-Free America is funded by alcohol companies. Alcohol is a sanctioned drug!
Marijuana has the ability to treat a number of debilitating diseases and improve the daily life of millions of people around the world.
New Jersey Governor Christ Christie is at it again. On Tuesday, Christie said that if he is elected president he will crack down on states that ended prohibition on marijuana. When Christie was asked if he would enforce federal drug laws in states that have legalized and regulated cannabis, Christie said that he would crack down and not permit it.
Marijuana tax revenue is blood money?
Today, Republican Senator Rand Paul (Ky.) announced that he will be running for president in the 2016 election. Senator Paul is poised to become the first presidential candidate from either party to make marijuana reform a significant campaign issue.
Senator Paul has been a major voice behind the marijuana movement. He has argued that states should be allowed to adopt their own marijuana policies without the fear of federal interference.
In an effort to improve their image with Congress, the National Cannabis Industry Association (NCIA) decided to no longer have “Cheech and Chong” actor Tommy Chong represent the group as a celebrity marijuana activist when the NCIA goes to capitol hill in late April.