Marijuana's legalization fuels black market in other states
Marijuana smugglers are growing and shipping vast quantities of illicit cannabis across the USA.
They’re mailing it, driving it and, in at least one case, flying it around in skydiving planes. They’re hiding it in truck beds and trunks and vacuum-sealing it to hide the smell as they pass police officers patrolling the interstates.
Many are starting in states where growing marijuana is legal, such as Colorado, and sending the drug elsewhere.
In June, Colorado prosecutors said they busted a 74-person operation producing 100 pounds of marijuana per month — enough to generate $200,000 monthly, tax free, for more than four years.
California Grows Too Much Weed for Its Own Use
In California, the good news is that legal weed is on the way—big time. The bad news is that Cali has too much!
Observers of California’s potential billion-dollar industry warn that growers are churning out too much. But how much is too much?
California’s cannabis production is said to be eight times more than what the state collectively consumes.
In other words, California produces 14 to 16 million tons of marijuana and consumes between 1.5 and 2 million tons. New California state regulations, which go into effect after January 1, 2018, prohibit weed exports to other states, so what’s to be done with all the extra pot?
Cali tokers either have to start consuming a hell of a lot more weed or growers are going to have to reduce their crops.
Doubtless, some growers will continue functioning on the black market and keep selling cannabis to other states, which is also illegal under federal law, of course.
Massachusetts Gov. Signs Off on Pot Taxes and More
HIGH TIMES Merger Aims to Take Company Public
On Thursday, High Times Holding Corp., publisher of HIGH TIMES and a leading voice of the cannabis community since 1974, announced its merger with Origo Acquisition Corporation, a special purpose acquisition company, in a move to take the company public.
Since the brand’s recent acquisition by Oreva Capital, HIGH TIMES has begun to position itself to better capitalize on its robust future growth, taking steps to broaden the company’s three primary segments: events, licensing and media.
Given the rapidly expanding acceptance and legalization of cannabis, HIGH TIMES believes access to capital and an elevated profile, via its anticipated public company listing, will enable it to expand the brand, while funding new business opportunities that leverage and support nationwide medical and recreational usage initiatives.
Scientists Still Seek A Reliable DUI Test For Marijuana
This spring, 16 state patrol officers from Colorado and Wyoming took a couple days off their usual work schedule to do something special. They assembled in a hotel conference room in Denver. As instructed, they wore street clothes for their first assignment: going shopping at nearby marijuana dispensaries.
"It's a brave new world," said instructor Chris Halsor, referring to the years since Colorado legalized recreational marijuana.
There are now more marijuana dispensaries in Colorado than there are Starbucks shops, said Halsor, a Denver lawyer and former prosecutor. And though consuming cannabis is legal across the state, driving under its influence is not.
Yacht Wars: Pot Company Kicked off San Diego Dock during Comic-Con
Who booted Budtrader.com off a ritzy yacht dock during Comic-Con last weekend—and why? Nobody will say, so now lawyers are involved.
Without a doubt, the place to be during Comic-Con in San Diego last week was the Fifth Avenue Landing marina.
The dockyard of choice for any super-yachts in town at any time, Fifth Avenue is within sight and sound of Comic-Con’s main events at the San Diego Convention Center. It’s the best place to spot celebrities—Justin Timberlake had disembarked here at Comic-Cons past, and this was where Conan O’Brien would anchor his star-studded coverage for TBS—as well as the after-hours party place of choice. IMDB had its invitation-only party here, and the party yachts for content magnates like Amazon.com would be docked here all weekend long.
It made perfect sense, then, for Brad McLaughlin, CEO of medical-marijuana marketplace Budtrader.com—a “Craigslist for weed” active in every state where cannabis is legal in some form (31 and counting)—to pick Fifth Avenue as the place to make a big splash for his company’s brand.
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