Tag Archives: legal weed sales

How Anti-Mafia Laws Could Bring Down Legal Pot

By 

RICO laws were written to combat organized crime kingpins – but now they’re being used against state-legal marijuana businesses

Most people have strong feelings about marijuana’s distinctive dank odor. Suspicious landlords sniff for it. High-school hot-boxers roll down all the windows of their cars and drive around for hours trying to get rid of it. Mainstream candle and soap companies seek to recreate it for high-end, non-psychoactive mood settings. And now, it’s quietly becoming clear that the powerful smell of legal cannabis could become its ultimate undoing ­– the thing that causes the entire legalization experiment to disappear in a poof of smoke.

Earlier this summer, the 10th U.S. Circuit Court of Appeals in Colorado decided that the “noxious odors” from a pot farm could be lowering nearby property values and creating a nuisance. The decision came out of a civil suit by the farm’s neighbors under federal racketeering law, and could set a landmark precedent. Marijuana remains illegal under federal law, and this decision makes clear that private citizens can now circumvent state law and do what Attorney General Jeff Sessions wants but has yet to do: challenge the legitimacy of states and businesses participating in legalization. Next year, the suit will go back to district court, and unless other appeals courts issue contradictory rulings and the Supreme Court decides to take up the case, the 10th Circuit decision will stand – providing a road map for people who hate marijuana to initiate the collapse of legal weed in America.

Everything about this case is important, from its far-reaching implications to the mysterious, well-funded organization behind it. But before we get into the details, the key thing to realize here is this neighborly dispute is a microcosm for what’s wrong with America’s tangled marijuana policy: The commercialization of cannabis has had real consequences for people and places that want no involvement with the drug. Attempting, as we have, to cordon off the states and businesses and entrepreneurs and government agencies that interact with pot is delusional.

Legal weed cannot be neatly contained. Markets and odors don’t work that way. Neighbors know this. Interstate pot traffickers know this. Attorney General Jeff Sessions knows this. The question is: when will we change federal law to reflect reality?

Full Read – http://www.rollingstone.com/culture/features/how-anti-mafia-laws-could-bring-down-legal-pot-w499585

U.S. legal marijuana sales were $5.4B in 2015, higher than Trump’s net worth and several times the cost of the Space Shuttle

NEW YORK DAILY NEWS
Wednesday, February 3, 2016, 9:15 PM
SETH PERLMAN/AP

Marijuana plants are shown at an Illinois medical marijuana cultivation center. Legal weed sales jumped 17% last year.

Americans spent more money on legal marijuana in 2015 than Donald Trump is worth, research revealed Monday.

The $5.4 billion in legal pot sales outpaces the magnate and presidential candidate’s $4.5 billion net worth and dwarfs the $1.7 billion cost of NASA’s Space Shuttle Endeavour. And weed sales will overtake the price of a nuclear-powered aircraft carrier in a few years.

Analysts from ArcView Market Research and New Frontier Data unveiled their annual report on the size of the legal pot market Monday, showing a 17% increase over 2014.

The marijuana market researchers predict overall sales will grow to $21.8 billion by 2020 at a compound annual rate of 30%. Voters in at least seven states will consider allowing adults to get high legally this year and 86% of Americans now live in states with some form of legal marijuana use.

Legal pot sales in U.S. outpaced The Donald’s $4.5 billion net worth.

“Many in the business and financial sector have taken a ‘wait and see’ approach to the legal cannabis industry,” the publishers wrote in an introductory letter. “The data in this report confirms what pioneer investors and entrepreneurs suspected: legalization of cannabis is one of greatest business opportunities of our time and it’s still early enough to see huge growth.”

Yet the figures already lend themselves to fun comparisons. They may never add up to the $710 billion Americans spend each year at bars and nightclubs or the $400 billion projected overall cost of the Department of Defense’s most costly and ambitious fighter jet program.

But the 2015 sales would buy 33 F-35 Joint Strike Fighters, based on the Government Accountability Office’s estimate. And when legal weed sales grow to $12 billion in 2018, the proceeds would be more than enough to pay for the city-sized USS John F. Kennedy aircraft carrier currently in the works.

Read Full Article – http://www.nydailynews.com/life-style/u-s-legal-marijuana-sales-5-4b-2015-article-1.2519611