Jun 28, 2016 9:15 AM

California Cannabis Measure Has Anti-Monopoly Provisions

Different kinds of businesses, from family shops and small farmers to the existing medical cannabis companies, will have the right to work in the industry of recreational marijuana if voters pass a legalization initiative this year.

That was said by California Lt. Gov. Gavin Newsom, who is one of the biggest supporters of cannabis legalization. Newsom also emphasized that the Adult Use of Marijuana Act (the title of the California initiative) contained measures that were going to shield the industry from “monopolistic practices” for the period of five years. Thus, any cultivation business that possesses an indoor production that is larger than 22,000 square feet or an outdoor facility that exceeds one acre will not be granted permission for growing until January 2023.

Moreover, according to the new law, the state licensing authorities will always check whether giving a license to a certain applicant may lead to the creation of a monopoly. Minorities will definitely have a place in the marijuana industry along with the existing medical cannabis companies, Newsom says.

The March study conducted by the scientists at the AP-NORC Center for Public Affairs Research revealed that 61% of Americans thought cannabis should be legalized. During the last few weeks, the new measure has had a high level of adherents, but the opponents of the new law still have a quite strong position. In case the initiative fails, the marijuana legalization in California and the whole country will be set back by years.

Though the legalization measure is supported by sponsors, it still requires financial support. The backers of the legalization initiative have heard numerous worries that people have about the possible impact of marijuana on teenagers and the rapid increase of intoxicated drivers on the roads.

Newsom noted that those concerns were taken seriously, and the legalization measure was developed in a way that it could incorporate changes going forward.

Los Angeles Plans to Expand Weed Businesses
There is great news for marijuana businesses based in Los Angeles. Earlier, the county voted against developing weed businesses. Moreover, it has had a ban on medicinal cannabis location for years. However, in a few months, Los Angeles is likely to become a number one spot for cannabis entrepreneurs.
Mar 21, 2017 12:20 PM
Report Suggests: Cannabis Legalization May Bring $7.8 Billion of Revenue by 2020
If voters support initiatives legalizing recreational marijuana in five American states and medical marijuana in Montana and Florida, those states will receive a $7.8 billion revenue from the legal weed market by 2020, the latest report suggests.
Sep 28, 2016 9:45 AM
Oregon Issues Licenses for Growing and Selling Recreational Weed
Since April 29, the Oregon Liquor Control Commission has started to issue the first bunch of licenses for growing and selling recreational marijuana to anyone over the age of 21. Oregon is going to fully embrace the weed industry by early next year.
May 19, 2016 9:07 AM