California Marijuana Legalization Could Usher In New Gold Rush
SACRAMENTO, Calif. - There is no guarantee California will vote to legalize recreational marijuana in November, but political operative and father of four Daniel Conway has already staked his future on it.
Conway left his job as chief of staff to Sacramento’s celebrity mayor, former Phoenix Suns NBA basketball star Kevin Johnson, to help start the marijuana investment company Truth Enterprises.
He is one of hundreds in the most populous U.S. state already pushing ahead with plans to enter a market experts say will be worth $4 billion by 2020.
Recreational marijuana: Arizona voters may get say this November
The campaign to legalize marijuana for recreational use submitted 258,582 signatures to secretary of state officials Thursday in an effort to qualify for Arizona's statewide November ballot.
The Campaign to Regulate Marijuana Like Alcohol needs 150,642 valid signatures from registered voters to qualify, and they have likely submitted enough signatures to account for any that may be thrown out. The measure almost certainly will make the ballot, and the proposal is pitting powerful business and social interests against legalization supporters including medical marijuana dispensaries and marijuana users.
California gets greenlight for vote on legalizing recreational marijuana
Arguably the Most Important Marijuana Decision Ever Is Just Weeks Away
You'd be hard-pressed to find an industry with faster growth potential than marijuana.
Since it was first approved in California 20 years ago, medical marijuana has become legalized throughout half the country. Most interestingly, the last two states to legalize medical marijuana -- Pennsylvania and Ohio -- have done so entirely through the legislative process (i.e., without bringing the matter to vote by residents of the state). We've also witnessed four states (Colorado, Washington, Oregon, and Alaska), as well as Washington, D.C., legalize recreational cannabis.
The growth figures are huge. ArcView Market Research, a leading cannabis research company, suggests that 30% compound annual growth is possible between 2015 and 2020. This would put the legal-marijuana industry on pace for nearly $22 billion in sales by 2020, based on ArcView's estimated $6.7 billion in legal sales for 2016.
June 26: Washington, DC Support. Don’t Punish Day Of Action
Lt. Gov. Gavin Newsom: Marijuana Legalization in California Is Not a Done Deal
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