Still No Homegrown Marijuana in Washington—But That Could Change
Washington state has one of the country’s earliest laws allowing adults 21 and over to use marijuana free of fear, and one of the most restrictive.
Washington was a progenitor of the arbitrary and worthless DUI threshold of 5 ng/ml of THC in a driver’s blood, and for a time, Washington’s Initiative-502 also seriously disrupted the state’s existing marijuana supply chain seriously enough to lead some industry observers to question whether it would work at all.
Under legalization in Washington state, growing marijuana at your home is also a crime, and a very serious one at that—a felony punishable by up to five years in prison. Only medical marijuana patients are allowed home grow, and while most marijuana consumers prefer to have someone else do the dirty work anyhow, this is one major benefit—or right, as many would attest—other states enjoy that Washingtonians do not.
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ASA Responds to Senator Jeff Sessions’ Attorney General Confirmation Hearing
Governor Proposes Decriminalizing Marijuana in New York State
For much of the past two decades, New York City had the dubious distinction of being the nation’s capital for low-level marijuana arrests.
Fueled by the data-driven zeal of former Commissioner Bill Bratton—the same “police reformer” Bill Bratton who suggested, in 2016, that marijuana was responsible for most of New York’s violent crime—NYPD officers dutifully collected petty weed busts like baseball cards.
In 2011 alone, NY cops arrested 51,000 people for marijuana offenses, most of them black or Latino people. The reason, police observers noted, was simple: Marijuana busts are easy, marijuana busts fill the stat sheet and marijuana busts fill the courts, filling in turn the public coffers with court costs and fines.
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The Nuts and Bolts of Getting into the Business of Cannabis
When thinking about the cannabis industry, most people don’t immediately consider the financial side of it.
The reality is that the legal marijuana business—medical and recreational—is a major industry in the United States, estimated at over $7.1 billion in total revenue for 2016. The ArcView Group, an investment firm with roots in the cannabis industry, estimates that gross sales could easily jump to over $10 billion annually within the next year. That is an almost unprecedented level of growth in any industry, to say nothing of the fact that “new industries” are harder to come by for those who want to get in on the ground floor. As a solid and reputable growth area, it’s still in its infancy, but cannabis has the potential to be an industry worth pursuing for budding entrepreneurs.
Investing in Cannabis Is Recession Proof
When times are hard, people still want certain things in life, certain little luxuries or privileges. As a result, the cannabis industry, like the liquor business, is relatively recession proof. And as the use of cannabis has become more socially acceptable, particularly in the area of medical marijuana, where the sanction of the medical profession allays the fears that some might have of the business, the demand has been growing steadily. It’s still an industry in its infancy, relatively speaking, which means that there is also tremendous opportunity for those who want to take risks in a new industry.
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