Report: Legalizing Cannabis Would Create A $35 Billion Industry In The U.S.

A new report released by GreenWave Advisers has detailed a calculated prediction about the future of the legal cannabis marijuana-money-live-trading-newsindustry – and the numbers are huge.

According to the report, if cannabis was legalized on a federal level in the United States by the year 2020, the recreational and medical market combined in all 50 states would be valued at around $35 billion annually.

The analysis concludes that change in federal law is expected, due to the continued efforts of lawmakers pushing various pieces of legislation to ease current laws, the benefits of medical cannabis becoming better understood, the positive economic impact becoming more recognized and according to the report, the most important factor: public support in favor of legalization is growing.

Read moreReport: Legalizing Cannabis Would Create A $35 Billion Industry In The U.S.

Seattle Issues Hundreds of Cease and Desist Letters to Dispensaries Ordering Them to Shut Down

The City of Seattle has issued over 300 cease and desist letters to dispensaries throughSeattle-skyline-space-needleout the city, ordering them to shut down by July 1st, 2015, unless they can obtain a license from the Washington State Liquor Control Board, despite no such license existing for medical cannabis facilities.

On Thursday last week, the city sent out letters to all businesses deemed to be engaged in “major marijuana activity”, defined as any activity involving 45 or more plants, or more than 72 ounces of cannabis. The letter reads as follows:

Read moreSeattle Issues Hundreds of Cease and Desist Letters to Dispensaries Ordering Them to Shut Down

Initiative Signature Drive to Legalize Cannabis in Nevada Begins Today

Today the Coalition to Regulate Marijuana Like Alcohol launched a signature drive for a new initiative to legalize nevadaflagrecreational cannabis in the State of Nevada.

State Senator Tick Segerblom and former Republican Senate Caucus Executive Director Joe Brezny were the first to sign the petition, during a press conference in Senator Segerblom’s office.

Read moreInitiative Signature Drive to Legalize Cannabis in Nevada Begins Today

New Jersey Senator Announces Legislation to Legalize Cannabis

Support for legalization has been mounting in New Jersey, and according to lawmakers, legislation is forthcoming. State Senator Nicholas Scutari, chairman of the Senate Judiciary Committee, has announced brightbudsplans to introduce a measure to legalize, tax and regulate recreational cannabis in N.J. within the next month.

Senator Scutari says the measure “will provide us with a tremendous cost savings and time savings for our law enforcement officers”. “It’ll save our citizens from the unnecessary multiple court appearance and criminal record and it’ll provide us with much needed tax revenue.”

Read moreNew Jersey Senator Announces Legislation to Legalize Cannabis

New Report Finds Increase in Flights to Colorado Due to Cannabis Legalization

A new report released from Hopper Research has revealed that cannabis legalization has had a dramatic impact on the demand for flights to Colorado.flights

Researchers examined data sources consisting of roughly 10 million queries and 1 billion trips per day, and found that the national search average for flights to Colorado is up, by as much as 63% in some places.

“Through most of December Colorado had similar relative popularity to the rest of the US,” says the report, “but starting at the end of December the popularity of Colorado started to increase. On average, the relative demand for Denver has risen by 6.3% since December 1st, with a peak of 14% higher during the first week of January.”

Read moreNew Report Finds Increase in Flights to Colorado Due to Cannabis Legalization

Washington State Liquor Control Board Issues Official Recommendations for Medical Cannabis Regulations

Today the Washington State Liquor Control Board (WSLCB) released its official recommendations on regulating medical cannabis in the state. walcb

Tasked with regulating the upcoming recreational cannabis market brought forth by passage of Initiative 502 last year, the WSLCB was directed through a provision in the state’s budget to work with the state’s Department of Revenue and Department of Health to draft recommendations to the state legislature on how to regulate the state’s medical cannabis market now that recreational cannabis is legal. Now, the final recommendations have been sent forth to the legislature for consideration.

Read moreWashington State Liquor Control Board Issues Official Recommendations for Medical Cannabis Regulations

New RAND Report Reveals Predictions of Washington Cannabis Consumption for 2013 Not Even Close

A new report released from the RAND Drug Policy Research Center has found that past projections of cannabis consumptionstock2 in Washington for 2013 fell short – by hundreds of thousands of pounds.

The report estimates the weight of cannabis consumed in Washington in 2013 based on data collected from existing household surveys and a new web-based consumption survey, and the results indicate that previous projections of Washington’s consumption rate for 2013 reflected less than half of actual consumption for the year:

Read moreNew RAND Report Reveals Predictions of Washington Cannabis Consumption for 2013 Not Even Close

High Times Cannabis Cup in Seattle Offered Attendees Opportunity to Truly Experience Legal Cannabis

This year’s High Times Cannabis Cup in Seattle – the 2nd annual – was something to be experienced. Much larger than last year’s event in terms of size, booths and attendees, the most drastic change was that anyone over 21 could enter the heart of the eventseattle2013-logo – where countless dabs (hits of cannabis oil)¬†were given out, and numerous cannabis products were sold – ¬†which was secluded to authorized Washington State patients last year.

If you were at the event, and could show an ID to prove you were over 21, you could walk through a plethora of cannabis-related booths, dozens of which were either giving out free dabs, selling cannabis edibles (such as chocolate bars, slushies, gummies, etc.), sampling bud that was grown from seeds they were selling, demonstrating new cannabis-related products, etc.. For two brief days, those who attended the event got a chance to feel what it was like to experience legal cannabis.

Read moreHigh Times Cannabis Cup in Seattle Offered Attendees Opportunity to Truly Experience Legal Cannabis

New Poll: Majority of Colorado Residents Remain in Support of Legalized Cannabis

A new Quinnipiac University poll has found that a majority of Colorado residents remain in support of the state’s recently-approved constitutional amendmentsaved11 which legalized cannabis for adults. 54% are in favor of the new law, with 41% being in opposition; these numbers mirror results from last November’s election.

The poll also asked participants whether or not they thought the new law would “create drug abuse problems”, and found that a majority – 55% to 42% – believe that it won’t. It was also found that 51% of the state’s residents have consumed cannabis, and 15% plan to consume it once recreational sales begin next year.

Read moreNew Poll: Majority of Colorado Residents Remain in Support of Legalized Cannabis

Denver Council Rejects Proposals to Further Restrict Recreational Cannabis, Approves 3.5% Tax

This evening Denver’s City Council finally came to agreement on a tax rate for recreational cannabis,bill-gives-states-marijuana-tax-power-thcf which will be set at 3.5%. During the same meeting, the council rejected two proposals to further restrict recreational cannabis outlets.

Under one of the rejected proposals – which failed by one vote – cannabis retail outlets would have been prohibited from ever moving locations. The second rejected proposal – which failed 5 to 8 – would have prohibited recreational cannabis stores from being located within 2,500 feet from a school, a move which some council members argued would be an “effective ban”.

Read moreDenver Council Rejects Proposals to Further Restrict Recreational Cannabis, Approves 3.5% Tax