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Category: Marijuana Laws

In Marijuana Articles, Marijuana Laws
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One of the only things we knew for certain about the North American weed industry prior to November last year was that regardless of the result of the vote, it was going to be big. Not just big, but spectacularly lucrative. There was no way of telling precisely how big it was likely to be, given the fact that it wasn’t entirely clear which way the nine states taking cannabis to the ballot box would vote.

Of course, we now know that the result of said vote turned out to be nothing short of outstanding for the cannabis community – all nine states having voted to legalise either recreational or medical cannabis. Which in turn meant that as far as economists and analysts were concerned, there was suddenly a lot more information to work with in terms of overall industry values.

2016 may have been an important and prosperous year for legal cannabis in the US, but experts believe we really haven’t seen the even the start of things to come. Last year, total cannabis revenues came in somewhere in the region of $5.7 billion, which in turn meant a total tax bill of approximately $1 billion. Not bad, considering how things were and are only just getting off the ground. Over the next five years however, analysts working with ArcView Research believe that we will see explosive growth across the entire cannabis industry, resulting in the total tally for 2021 coming out in excess of $21 billion.

 

And they’re not the only ones who see things accelerating wildly over the years to come. Quite to the contrary, what with a recent paper published by 10 Cowen & Co. suggesting that when the year 2026 rolls around, the legal cannabis industry in the US could be worth more than $50 billion. If so, this would make the legal cannabis industry perhaps the single fastest-growing new industry ever to have emerged in the United States, in terms of its overall value and tax contributions.

Needless to say therefore, it’s a pretty positive picture that seems to suggest wide reaching and growing benefits for an economy which, let’s face it, is always in need of a boost. Or at least, that would be the case – were it not for a rather large and tenacious onion in the proverbial ointment residing in the Oval Office right now.

Disconcertingly Vague

At the past few years, Donald Trump hasn’t given the weed community, in general, a great deal to go on, when it comes to both his personal opinions on cannabis and how he intends to tackle the issue. Every time he seems to have indicated worryingly conservative views, he has gone on to state that it’s an issue that can and should be controlled by each state individually. Which would seem to suggest that for the most part, there’s not a great deal to worry about.

Which would have been true, if it wasn’t for the fact that Jeff Sessions was recently confirmed as the new US Atty. General. Now, no doubt you’ve already come across more than a few examples of Sessions’ completely OTT and dangerous comments regarding cannabis. Whether it’s executing cannabis dealers, insisting that no “good people” in America smoke cannabis and famously stating that the KKK would be just fine if they didn’t smoke pot, he’s not exactly earned a reputation as a friend of the cannabis community. And given the fact that he has his finger on the big-red Federal law button, it’s all a little bit scary.

More recently, he was questioned directly on these exact statements and his views on cannabis legislation in general. Rather than backtracking, clarifying his stance or giving any indication whatsoever as to how he intends to proceed, he simply confirmed that he is not “ruling out” the enforcement of Federal law.  Which is, suffice to say, what the cannabis community for the most part sees as a real doomsday scenario.

The only question now being – will he actually have the audacity to go through with it?

That’s something only time will tell, but given the incredibly controversial action taken so far by the Trump Administration in various areas, it’s far from beyond the realms of possibility.

A Select Few Outcomes

The thing is though, while the cannabis community in general remains well and truly rattled, confused and unable to even guess what’s going to happen, realistically speaking there are only a few ways things could go. Or more accurately, a total of five possible outcomes in terms of how Trump, Sessions and Co. could decide to handle cannabis. Of which some are of course fundamentally more terrifying than others, but when looking at things from a logical standpoint, it also seems relatively clear which are the most probable.

That is of course, assuming that logic is something that comes into the equation!

So when the dust has settled following Trump’s turbulent arrival and the cannabis issue is brought to the table, what are the scenarios we could well be looking at?

Scenario 1 – Game Over

It goes without saying that the worst possible case scenario would be that of Sessions deciding that the time has come to declare war on cannabis and choosing to fire the first salvo. The scary thing being that as cannabis still remains entirely illegal at a Federal level – both recreational and medical cannabis alike – every single person across the US using, buying, selling or working with the stuff in any way is technically breaking the law. Which in turn means that if Federal law was to be enforced, millions could face criminal charges. To enforce Federal law would see the entire industry annihilated, leading not only to ruin for tens of thousands of currently-legitimate business owners but untold misery and agony for millions of medical cannabis users. It’s a far-fetched idea to any sane person, but it’s certainly not out of the question.

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Scenario 2 – Goodbye Recreational

 

One considerably more plausible scenario than outright war on cannabis as a whole is that of the newly installed government instead aiming their arsenal square early and exclusively at recreational cannabis. For one thing, the recreational cannabis industry is currently in its infancy. For another, deciding to abolish recreational cannabis would mean that medical cannabis users would still be able to gain access to the essential treatment they need. This is a move the government could see as ‘nipping the problem in the bud’ and would probably gain a lot of support nationwide. After all, the overwhelming majority of US citizens may support medical marijuana – recreational cannabis continues to divide the public fairly equally down the middle.

Scenario 3 – Progress Halted

Something else the government could decide to do, albeit an incredibly complicated and difficult option, would be to ensure that the current spread of the industry is halted in its tracks. Or to put it another way, business as usual can continue in states where cannabis has been legalised, but no new states will be allowed to join the party. Of course, it would probably be impossible to bring into effect any actual law with these kinds of unbalanced stipulations. But at the same time, Sessions and Co. could make it so incredibly difficult for any new states to get involved that it would be largely impossible for them to do so.  Given the complexity of the issue, this seems like a highly improbable outcome.

Scenario 4 – Trump’s Total Support

Highly unlikely for the time being but certainly a plausible prospect for the future, it’s worth remembering that Donald Trump is a businessman. Not only this, but a spectacularly capable businessman and the president that has promised to pump billions back in the US every year, create jobs, support good causes and so on. As such, to walk away from an industry that promises more than $10 billion in tax revenues every year would seem to be a ridiculous and unthinkable move. Moreover, should Trump decide to pledge his support to the US cannabis industry, he could make history by de-scheduling pot at a Federal level. And if he does, the growth we’re likely to see over the coming years could be nothing short of mind-blowing.

Scenario 5 – The Passive Approach

Last but not least, the single most probable outcome of all is that of Trump and Co. deciding not to do anything at all. Or more specifically, leaving the cannabis community as they are right now and allowing each individual state to come up with and enforce its own cannabis policy. All of which makes sense for two very good reasons – the first of which being that the current system is both working well and has the support of the public. Secondly, there’s the way in which Trump has way bigger fish to fry than the cannabis issue and leaving things as they are would allow him to effectively escape criticism on either side of the fence. Cannabis critics would salute him for not touching Federal law, while the pro-cannabis community would breathe the biggest collective sigh of relief in its history.

Still, there are some who remain optimistic enough to actually welcome Sessions’ appointment. One of which being National Cannabis Industry Association executive director Aaron Smith, as quoted by Seed Supreme:

“We look forward to Attorney General Sessions maintaining the current federal policy of respect for legal, regulated cannabis programs in the states, and we will work with him to do that,” said Smith.

“State-legal cannabis businesses generate billions of dollars in economic activity and support tens of thousands of good-paying jobs. The projected value of the legal cannabis industry in the U.S. for 2016 is $6.7 billion, and that market value is expected to grow to $21.8 billion by 2020.”

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In Marijuana Laws, News
Posted

Last year, the Canadian government announced that they will legalize weed in Canada. Last week, the Canadian government, under Prime Minister Justin Trudeau, unveiled its plans to do so.

The Cannabis Act is an act that was introduced to Canadian Parliament in 2017 that would legalize weed in Canada. It is a milestone in the legal history of cannabis in Canada, alongside the 1923 prohibition.
Should the Cannabis Act pass in Canadian Parliament, this country would become the second nation in the world, after Uruguay, to regulate a legal marijuana market.  While this feels like a long time coming, as it was one of Trudeau’s biggest endorsements while he was campaigning for office, it is definitely exciting to see it begin to come to fruition.

According to CNN

The legislation “seeks to legalize, strictly regulate and restrict access to cannabis, and it will make Canada safer,” said Bill Blair, parliamentary secretary to the minister of justice.

There are several items of interest under the Cannabis Act, but some of the most outstanding and general items include

  • The government in Canada would be the authority on regulation and would create a system to regulate marijuana production, distribution, and sales and would collect licensing fees and taxes from sales
  • Producing or distributing marijuana outside the government regulation would be considered serious offenses by the government
  • Adults (ages 21 and up) would be able to have up to 30 grams of legal marijuana in public and can also purchase marijuana from licensed retail outlets
  • Adults will be permitted to grow up to four marijuana plants per household
  • New legal offenses would be added that would prohibit people from driving while they’re impaired by marijuana and other drugs; law enforcement is expected to use saliva tests for checking drivers
  • Marijuana cannot be brought over the border under any circumstance; this law is specific to the country of Canada

Real Marijuana Weed Blog is looking forward to having our Northern neighbor be one of the countries to pioneer this space in cannabis policy reform and hopes to see the U.S. soon follow in their footsteps.

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In Cannabis News, Marijuana Articles, Marijuana Laws
Posted

Marijuana’s expansion is incredible. Still, it may not be as jaw-dropping and surprising as the study released by the Pew Research CenterOpens a New Window. last month that showed a surprising group of individuals who want to see marijuana legalized on a national scale.

Between May and August of 2016, Pew interviewed a national sample of more than 7,900 police officers in local police and sheriff departments with at least 100 sworn officers to get their opinion on whether or not marijuana should be legalized nationally. Pew’s findings showed that:

  • 32% of the police officers believe cannabis should be legal for recreational and medical purposes nationally.
  • 37% of police officers want to see marijuana legalized nationally for medical use only.
  • 30% of police officers believe pot should remain illegal nationally.

You’ll note that rounding keeps the figures from adding perfectly to 100%, but that by more than a two-to-one margin police officers around the country would prefer to see marijuana at least legalized for medical use. Though within the margin of error of two to three percentage points, fully legalizing the drug is also slightly more popular than keeping it entirely illegal. Consistent with other previous studies, younger police officers are considerably more likely to favor some form of legalization than older police officers (ages 50 and up).

It’s worth pointing out that police officers were still notably more conservative in their views than the general public. Pew questioned more than 4,500 adults between August and September 2016 and found that 49% wanted to see cannabis legalized for a recreational and medical purpose; 35% wanted to see it legalized for medical use only, and just 15% opposed its national legalization. Once again, rounding keeps these figures from adding to 100%.

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In Cannabis News, Marijuana Articles, Marijuana Laws
Posted

With 28 states legalizing medical marijuana and eight going one step further with legal recreational use, the cannabis business is booming. But since the drug isn’t yet federally legal, there are still bureaucratic roadblocks for investors looking to go legit on the weed-equivalent of Wall Street.

One barrier weed advocates and entrepreneurs encounter is the U.S. Drug Enforcement Administration’s (DEA) classification of the drug. Marijuana is classified as a Schedule I drug, or “substances, or chemicals defined as drugs with no currently accepted medical use and a high potential for abuse,” according to the federal government. This groups weed with more serious and dangerous drugs like LSD, ecstasy, and heroin. However, the National Commission on Marijuana and Drug Abuse issued a series of reports concluding that marijuana was “less a serious threat to public health than a sensitive social issue and recommended changes to federal law that would permit citizens to possess a small amount of it at a time, while still maintaining that the drug should not be legalized.” Weed’s mis-classification poses restrictions for patients in non-weed-friendly states who are seeking marijuana to treat serious illnesses. Its Schedule-I title also puts a damper on investors’ plans: The Financial Industry Regulatory Authority (FINRA)—the chief regulator of Wall Street—blocked a S-1 filing from weed companies attempting to go public and trade stock until the drug is re-scheduled.

Despite these challenges, the economic potential of the blossoming cannabis industry may be worthwhile. If you’re willing to risk it all for a career in weed, check out this advice from Khadijah Adams, the founder and CEO of Cannabis consulting company MIPR Holdings. Complex talked to the entrepreneur about how to invest in the weed industry:

Can you explain what “the green rush” is?
The green rush is referred to as the beginning of recreational cannabis. Kind of like the Gold Rush where people discovered gold, where they came searching and seeking, rushing to find it. Colorado legalized recreational cannabis on January 1st 2014, and that was the beginning of the green rush. I actually sold everything in my house, had a garage sale, kept my clothes and cell phone, my computer, loaded up Mercedes and hit the road.

Tell us about the birth of your marijuana consulting company, MIPR holdings.
I met a couple young ladies in the industry and I reached out prior to coming to Colorado by phone and made some calls. They really encouraged me to just get involved in the community and just get to know the people, and get to know the foundation, and how it all started. And that’s what I began to do because I didn’t know how I would fit in.

What are some of the risks of investing in marijuana stock? 
One of the major big risks that most experts would point to is the fact that is cannabis is still illegal and the Feds can come in at any time and shut the whole program down at anytime. So you’re taking a risk there—whether you’re touching the plant or not. That’s why we have classes and education teaching the basics. And we invite people to come in and get the information they need before jumping into cannabis stocks or any investments. We’re not financial advisers or brokers or anything like that—I’m an investor just like they are—but it’s always good to have someone you can speak to and say hey, is this a good move or not?

What’s a common misconception about the marijuana business?
I share with people that I’m in the cannabis industry, they automatically assume that I’m touching the plant—but the only time I’m touching the plant is when I consume it. When you start investing in the cannabis industry or stock, they assume that you’re actually investing in the plant. They don’t realize that this is an entire industry that has an advertising company, a marketing company, a PR company within the industry.

The common misconception is that everyone is a pothead and smoking weed and the world’s going to end. How I debunk that is through character and presentation. You lead by example. When you show people that you are not the “typical pothead” that they’ve pictured through propaganda and the media, they get a different perspective, and they are really shocked. They say, “Oh my god, really? You smoke cannabis, but you’re so professional!”

There’s a lot of professionals in the closet. And I was in the closet for a long time, but times have changed. In the next two to ten years, we’re going to see a lot more changes.

What kind of changes?
Federal Legalization: I believe the cannabis industry will be legalized on the federal level. There will be families that will stand out, just like the Kennedys stood out when alcohol prohibition ended. Joseph Kennedy became the fifteenth wealthiest man in America and 85 percent of his wealth came from alcohol, according to the New York Times and what other experts believe, and this is why we know the Kennedys. People that will create generational wealth when federal legalization happens, it’s going to be the people that take advantage of their time and positioning. That’s where we are right now.

What advice would you give to someone looking to invest in the cannabis industry?
I would tell them to buckle up, because they are in for a ride and the surprise of a lifetime. It is a brand new legalized industry. You’re going to see a little bit of this and a little bit of that. I can tell you that you better have a big pair of pants and a pair of high boots on. But it is exciting. Get with like-minded individuals that are doing things and going places and making things happen and align yourself with these people, and stay focused. The money will come, but being able to be of service to people in the industry and working to perfect that is key to success. [Be] committed, because this industry is changing every single day.

You have companies that are start-up companies and the OTC Market (over the counter market), [where] you’re dealing with a lot of penny stocks … They are very volatile—there’s no liquidity, which means they have no money. They are actually going to the OTC to raise money to pay off early investors; some of them are raising money to avoid bankruptcy. Some of them are raising money to fund their project or products or services or whatever they’re offering. And so they don’t have a lot of information, they don’t have any past history that an investor can look at and say, “Okay, let me see what they did a few years ago and compare it to what they want to do now.” So you’re taking a big risk on some fairly new companies and some of them are penny stocks—not all of them—but the ones that are, they’re big risks.

Before you invest in any company, get as much information about that company as you possibly can … Find out if they are even a legitimate company … Who’s the management team, who’s running the company? Look at the company’s finances, the balance sheet, the cash flow, the income statement, the shareholder’s equity. Look at all of that before making a decision. Call the nearby Chambers of Commerce, find out if they’re even a legitimate company, if they even know the people. Get some background on the management as well. That’s the advice that I give and to really speak to a financial adviser before getting started because most people really don’t know their financial investment needs. Many of us are new to this, and it’s because of cannabis that a lot of us are new to the investment side.

Coming into this industry, networking is key. Mix and mingle with people, get to know them and establish relationships because you never know who they may know. But once you find out what it is you want to do, have a crystal clear vision of what that looks like. Align with the right people—positive people. And people who can actually encourage you and help take you to the next level. That’s with any industry, but especially with the cannabis industry because you’re dealing with a new industry where many people are coming from underground and really don’t have the business 101 yet. That’s why so many educational platforms are popping up here and there. As a newcomer, as an entrepreneur, be mindful of your time. It’s valuable and you can never get it back. Make key contacts.

It wasn’t until one evening when I had come home and my spouse at the time shared with me that he began adding cannabis stocks to our portfolio. When he shared that with me, a lightbulb went off and I was like, “Marijuana stock, what? Are you kidding me, we have marijuana stocks, there’s marijuana stocks?”

I began to do my research and began to be a student of people who had earned money in the industry. I began to give him different companies to invest in and then I opened my own account and began to invest myself. And my story got out there and people began to call me and say, “Can you teach me how to do this? Can you show me the basics?” … I began to help people, next thing you know, I started MIPR Holdings, Marijuana Investment and Private Retreat. We are a professional consulting service with a focus on investor relations. We help accredited investors and connect them to investment opportunities in the industry. We work with the investors and connect investors to small to mid-sized companies looking for funding and also to investment firms in the cannabis industry. [People who called me] wanted to learn how to invest online from the comfort of their own home. So, that’s how I got started. But I also wanted to educate people and warn them about the risks of investing in this industry as well.

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In Marijuana Laws
Posted

Marijuana Use – Different factors in decision-making

Even in states where marijuana use is legal, about a quarter of people will never use it. There are also about a fifth of people will use the drug regardless of its legal status.

However, for all the people in the middle of those two extremes, many things factor into their decision of whether to use marijuana. The price, potential governmental records and the rules in their workplace are all important considerations, according to Mike McLaughlin, a Yale School of Public Health graduate student. He noted that workplace bans are a particularly key issue.

McLaughlin presented his research at the American Public Health Association’s annual meeting. He tried to determine what matters most to people in the states that are voting on marijuana legalization, and what states can do to influence people’s decision.

For his study, he surveyed over 500 adult residents of Arizona, California, Florida, Massachusetts, and Michigan.

Workplace rules have the greatest impact

About five percent of survey respondents said that they would be less likely to use the drug if the state government tracked purchases. A similar number said that if it were illegal to smoke in public, that would be a deterrent. If the price rose by about $20/gram (through taxes and fees), another five percent would be less likely to use.

However, if a state made it difficult for a company to fire an employee for using marijuana outside of the workplace, nine percent of people were more likely to smoke. A complete lack of workplace repercussions meant that 20 percent more people would use the drug.

Certainly, as McLaughlin said, an individual’s commitment to their job makes a difference. If someone is in a low-paying job with high turnover, they may care less about their employer’s rules. However, someone with a highly paid job that they enjoy might decide that avoiding any possible repercussions is most important to them.

Might not be a problem much longer

Under the Drug-Free Workplace Act, companies are allowed to test for marijuana use and prohibit employees from using even when they are off the clock. But, if it stops being regulated at the federal level, that could change.

It’s difficult for a test to tell how recently a person used cannabis. In Colorado, employers have started turning to drug tests that ignore marijuana use altogether, since the drug has been legal for recreational use since 2012.

Many industries have relaxed their views on recreational marijuana use outside of work hours, but industries with a high level of safety concern have been more likely to maintain a no-tolerance policy.

For most people in McLaughlin’s study, the goal was clear – they want marijuana to be treated like alcohol. Depending on how votes go in the next few years that may happen sooner than you think.

Written by Robert Bergman, founder of ilovegrowingmarijuana.com. Robert has been passionately exploring and experimenting with cannabis seeds for over 20 years and shares these insights to help prospective growers get the most out of their plants. On top of that, Robert engages to fully liberate marijuana by offering his views in the political, social, market and industry area of our beloved plant.

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