You'll Never Guess What Marijuana Is Being Blamed for Now
We're less than three weeks away from the calendar ticking over to a new year -- a year that very well could be the most important for the marijuana industry to date.
We can certainly look back on some of the milestone events within the marijuana industry over the past two decades and argue that they've been pivotal moments in the advancement of the currently illicit drug. California becoming the first state to legalize medical marijuana in 1996, and both Washington and Colorado legalizing recreational marijuana in 2012 are two events that come to mind. However, the 2016 elections could feature in the neighborhood of a dozen ballot referendums or amendments to legalize recreational marijuana in states where the drug is currently legal for medical use.
For example, California, the most populous state in the country and the one that could arguably have the biggest impact on an eventual legalization of the drug, is expected to offer a referendum for residents to vote on the legalization of the drug for recreational purposes. President Obama has previously suggested that the best way to get the attention of federal lawmakers who believe marijuana legalization is an issue of low importance is to continue to pass recreational and/or medical laws on a state-by-state basis. If the numbers are clearly in favor of legalization, and states demonstrate that they can safely and effectively regulate the drug, Congress may be more likely to act.
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This Secret Document Reveals One Big Bank's Crazy Marijuana Plans
It was only a matter of time: Wall Street heavyweight Merrill Lynch, the wealth management division of Bank of America, has apparently already started thinking about its role in the marijuana industry.
A 45-page equity report leaked to Philly Inquirer columnist Chris Goldsteinsuggests that Merrill Lynch is paying close attention to the budding industry. The company says that it's particularly "bullish on the cannabis testing market."
A prospective investor who received the report last week recently shared it with Goldstein. It included information about various components of cannabis such as THC and CBD, state medical marijuana laws, medical conditions that marijuana has been shown to treat, public polling, and details about "publicly traded companies already operating in the sphere."
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Mexico issues first permit to grow and use marijuana
Mexico City (AFP) - Mexican health authorities issued Friday the first permit allowing four individuals to grow and smoke their own marijuana, but none actually plans to consume the drug.
While the permit opens a crack in Mexico's prohibitionist policies, the government health watchdog Cofepris stressed that the authorization is limited to those four people only.
The foursome, who secured the authorization in a historic Supreme Court ruling last month, hope that their victory will force Mexico to legalize marijuana.
The group, part of the Mexican Society for Responsible and Tolerant Personal Use (SMART), says decriminalizing pot will help reduce the country's relentless drug cartel violence.
"We didn't do this to get the right (to consume) for ourselves but to change a public policy that has been extremely costly for the country," said Armando Santacruz, an accountant and one of the four who won the case.
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