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Recreational Marijuana Bill Clears New Mexico Senate Panel

Bill supporters include advocacy groups for criminal justice reform including defense attorneys and the ACLU.

March 11, 2019

Legislation and regulation News State by State: New Mexico Dispensary News

SANTA FE - A proposal to legalize the sale and consumption of recreational marijuana through state-run stores in New Mexico is advancing in the state Legislature.

A Senate panel on Saturday, March 9 endorsed the House-approved bill that would allow possession of up to 1 ounce (28 grams) of marijuana for recreational use by people 21 and over, while applying taxes of up to 17 percent on sales.

Bill supporters include advocacy groups for criminal justice reform including defense attorneys and the ACLU. Businesses associations and medical marijuana businesses are worried about state involvement in sales and a potential plunge in marijuana prices.

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The Economic Implications Behind the Cannabis Legalization Debate

The regulation of cannabis for medical use is being discussed in the European Parliament and some Member States have a whole new debate on the economic benefits that may bring.

March 11, 2019

Forbes

News Dispensary News

After decades of prohibition, some countries are starting to consider legalizing cannabis as a way to tackle the increase in consumption and take benefits from it. The fact is that cannabis is the most used illegal drug in the world, so looking the other way or introducing ambiguous or restrictive regulations is not going to solve the problem. Some Governments across the globe have taken action by regulating the cultivation and consumption of cannabis; this is the case, for example, of some states in the U.S. and Canada. Now the focus is set on Europe, where the regulation of cannabis for medical use is being discussed in the European Parliament and some Member States have a whole new debate on the economic benefits that legalizing cannabis may bring.

Earlier this month, the ETFGI Consultancy Firm revealed that the world’s first cannabis exchange-traded fund is on its way to becoming the second most profitable exchange-traded fund (ETF) in Canada after offering 50-percent return so far this year. In October 2018, Canada became the second country in the world, after Uruguay, and the first country within the G20 to legalize the recreational use of marijuana. A few months later, the Horizons Marijuana Life Sciences Index fund has grown to €1.15 billion ($1.3 billion) becoming the 18th largest Canadian ETF, according to ETFGI.

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