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Legal marijuana sales forecast to hit $23B in 4 years

Category: News | Posted on Mon, March, 21st 2016 by THCFinder

Marijuana is rapidly becoming a big, semi-legal business across the country, with $5.7 billion in sales last year and tens of thousands of people working and paying taxes as they cultivate, package and sell cannabis. USA TODAY

The industry is only expected to grow in 2016, particularly if California voters this fall decide to legalize recreational use, according to the newly released 4th Edition State of Legal Marijuana Markets Report from from ArcView Market Research and New Frontier, a cannabis-focused data-analysis firm. Much of the increase is attributed to adult use market sales, which hit $1.3 billion last year. By 2020, adult use and medical marijuana sales are expected to reach nearly $23 billion, triple this year. 

Read More:http://www.usatoday.com/story/money/business/2016/03/20/legal-marijuana-sales-forecast-hit-23b-4-years/82046018/


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'Marijuana' ads fail Google policy test

Category: News | Posted on Sun, March, 20th 2016 by THCFinder

Don't try to Google the terms "medical marijuana'' or "medical cannabis'' and expect to find ads for dispensaries in New York.

The operator of one of five new medical marijuana providers in the state recently learned that the hard way.

When he tried to advertise with the search engine giant he found that ads with those terms — "medical cannabis'' or "medical marijuana'' — were rejected.

While Google accepted other ads without those terms, it was akin to, say, Ford running a search engine ad without the term "car'' or "truck,'' said Ari Hoffnung, CEO of Vireo Health of New York, one of five providers recently licensed under the state's Compassionate Care Act which allows limited use of medical marijuana.

Read More:http://www.timesunion.com/local/article/Marijuana-ads-fail-Google-policy-test-6923195.php


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Oregon Generated Almost 3.5 Million Dollars In Recreational Marijuana Taxes In 1st Month

Category: News | Posted on Sun, March, 20th 2016 by THCFinder

oregon medical marijuana cannabis oregonian newspaperThere are a lot of reasons to reform marijuana laws, the most important of which is compassion. We need to have compassion for our fellow humans, and charging them with a fine and/or charging them with a crime and/or locking them in a cage is inhumane and lacks compassion. No one should have to go to jail for marijuana, or be arrested, or even fined in my opinion. That’s why I fought so hard to legalize marijuana in Oregon, a state I have lived in all my life.

That’s at the top of the list of reasons why we need to legalize marijuana, and second place isn’t even close in my opinion. But with that being said, there are obviously a lot of other benefits to legalizing marijuana. The economic benefits of marijuana legalization are touted early and often, and I think that’s in large part because it changes the minds of voters for better or worse. In a perfect world everyone would want to legalize marijuana because it’s obviously the right thing to do, however, some people are much more swayed by monetary statistics for better or worse.

The State of Oregon instituted a 25% temporary tax on all recreational marijuana sales at licensed dispensaries, starting in February. State officials were quit to state that it’s not a sales tax, which is a taboo phrase in Oregon. But, at the end of the day and for simplicity purposes (and just calling it what it is!), the tax is a sales tax on marijuana. The numbers are in for January, and it looks like Oregon brought in just shy of 3.5 million dollars in tax revenue from recreational marijuana sales. The Oregon Department of Revenue issued the following press release about the numbers:

Read More:http://www.theweedblog.com/oregon-generated-3-5-million-dollars-recreational-marijuana-taxes/


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Irish Are Emigrating in Search of Medical Marijuana

Category: News | Posted on Sun, March, 20th 2016 by THCFinder

Another Irish immigration to the U.S. is taking place, but this time it is not because of the potato famine or the economic deprivation it caused in Ireland for decades. 

This is the story of Irish people who regard themselves as the first “international medical cannabis refugees” seeking treatment in Colorado.  

Yvonne Cahalane left her small community in Cork, southern Ireland, for Colorado with her 2-year-old son Tristan who suffers from Dravet syndrome and has up to 20 seizures every day. 

Read More:http://www.hightimes.com/read/irish-are-emigrating-search-medical-marijuana


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Legal marijuana: A $44 billion business by 2020?

Category: News | Posted on Sat, March, 19th 2016 by THCFinder

The growing acceptance and legalization of marijuana is helping the U.S. cannabis industry expand well beyond niche status. It's forecast to pump from $24 billion to $44 billion annually into the country's economy by 2020, according to an industry publication.

At the upper end of that forecast, published in the Marijuana Business Factbook 2016, it means sales of medicinal and recreational marijuana and related products and services would nearly equal the annual revenues of such Fortune 500 firms asFedEx (FDX) and Lockheed Martin (LMT), should current trends continue.

Put another way, that $44 billion is just shy of Panama's $46.2 billion GDP and ahead of Serbia's $43.9 billion. Even if the industry publication's forecast is a bit puffed up, cannabis is clearly heading for the big time.

Read More:http://www.cbsnews.com/news/legal-marijuana-a-44-billion-business-by-2020/


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New Orleans City Council Doesn’t Want People Arrested For Personal Marijuana Possession

Category: News | Posted on Sat, March, 19th 2016 by THCFinder

marijuana arrest prison drug drugsArresting someone for marijuana is inhumane, can ruin the person’s life in the blink of an eye, and costs the arresting agency a ton of money. I’m not sure how much a marijuana arrest costs in all municipalities, but many of the figures I’ve seen put a marijuana arrest for simple possession at between $1,500 and $2,000. Compare that to issuing a citation, which can cost as low as $20 from some statistics I’ve seen. More and more local governments are reforming their marijuana laws in such a way that minimizes the amount of people being arrested for simple marijuana possession.

The New Orleans City Council became the most recent local government to make such a move. The New Orleans City Council voted yesterday to reform it’s city marijuana law regarding personal possession. Per NOLA:

New Orleans police will have even more leeway to issue citations for simple marijuana possession after the City Council voted 7-0 Thursday (March 17) to enact new standards aimed at reducing the number of arrests for low-level drug crime.

Local law already allowed NOPD officers to write a ticket for first-offense possession, and they still have the option to use the stricter state law that calls for arrests. Council members Susan Guidry and Jason Williams backed the ordinance that allows police to issue summonses for third and subsequent simple possession charges.

“Our hope with this is that fewer people will be brought to jail and fewer people will have their lives disrupted with this charge,” Guidry said.

Read More:http://www.theweedblog.com/new-orleans-city-council-doesnt-want-people-arrested-for-personal-marijuana-possession/


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