“You will not find another multibillion-dollar market growing at 25 percent anywhere in the world that is not already filled with multinational companies and institutional investors. That’s part of what makes the cannabis industry such a unique opportunity for investors and entrepreneurs.”
Troy Dayton, CEO of Arcview Market Research, on the potential of the cannabis industry in 2017. The company’s new “State of Legal Marijuana Markets Report” finds North America’s regulated sales in 2016 at $6.9 billion.
Source: Arcview Market Research
“This is going to happen. The question is, do we want it to happen 10 years from now? Or do we want to start getting the benefits now?”
New Mexico Rep. Bill McCamley, who is sponsoring one of two marijuana legalization bills for the state this year. McCamley’s bill would legalize marijuana in 2017 and set a 15 percent tax on sales. The second bill, sponsored by Rep. Gerald Ortiz y Pino, creates a state constitutional amendment proposal that would have to be approved by voters in a general election.
Source: Albuquerque Journal
“Maybe there’ll be enough public support that we may gain some traction and potentially get it done either this year or next year to put it on the ballot in November 2018.”
Georgia Rep. Allen Peake, who introduced a bill in January asking for a state constitutional amendment to legalize medical marijuana cultivation and distribution. Peake is responsible for a 2015 bill that allows some patients to use cannabis oil for particular conditions. According to state officials, more than 1,300 patients have been registered since that program started.
“We thought we had all the I’s dotted and all the T’s crossed. We are a little disturbed over the slowness of government.”
Riley Ray Morgan, chairman of the North Dakota Compassionate Care Act, which passed in last year’s election 63-36. The state legislature introduced a bill in January delaying implementation of the program until July 31, 2017, or until a full regulations bill is passed this session.
Source: The Bismarck Tribune