Legalization and Regulation of Marijuana in Los Angeles

What is Prop 64 and what does it mean for the marijuana industry?

The regulation of the marijuana industry in California changed in January of 2017. Proposition 64 allows for recreational cannabis to be legal for consumption. Other states that have legalized recreational marijuana are Alaska, Oregon, Nevada, Washington, and now in California. This turn in in the legislative environment for marijuana will be a huge change for the culture for those that live in these legal weed states. Now cannabis users can partake in getting high without needing a medical marijuana recommendation from a doctor. Many of the states in America currently have legalized cannabis at least for medicinal purposes and are also working on similar regulations to legalize marijuana for recreational use.

After Prop 64, will Los Angeles cannabis capital of the world?

Due to these new regulations, Los Angeles is expected to be the marijuana capital of the world. Denver was the highest in marijuana usage and sale until Proposition 64 in California was passed. Although you’re able to smoke marijuana legally in California, there is no place to legally by cannabis. Cannabis users that do not have a medical marijuana card are expected to grow their own weed until 2018 when retail licenses will be granted for cannabis dispensaries.

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Investors in the Future of the Cannabis Industry

You can imagine the investors that are looking to get into the marijuana recreational markets. This legal shift has brought many investors looking to get into marijuana-related industries. They are looking to gain financially from Proposition 64. A big problem for investors is that the federal banking system does not allow for cannabis-related income. This is due to the federal drug regulations in which marijuana is still deemed illegal on a federal level. The state treasurer of California is attempting to address the banking challenges of the cannabis industry. Those looking to venture into this recreational marijuana market would need to do so through cash endeavors.

How big the cannabis industry in Los Angeles?

The medical marijuana market in Los Angeles is thought to be near $1 billion. When recreational cannabis sales become legal, this number could easily triple. The city of Los Angeles is expected to have local ordinances pertains to the sale and use of marijuana. These will be enforced through a commission that regulates recreational marijuana. This will include zoning, licensing, and the enforcement of Proposition 64.

When will be recreational marijuana be available for sale?

The goal of recreational cannabis regulation is to curb the illegal market that has been seen with medical marijuana. Another goal is to raise money for the state with a higher taxation on recreational weed. One could see how there could be a substantial underground market in 2017; due to the fact that the various recreational cannabis licenses for marijuana cultivators, processors, and dispensaries will not be available until 2018. Recreational marijuana sales should be open starting in 2018.

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With our cannabis search engine you can currently browse medical marijuana dispensaries, cannabis delivery services, medical marijuana doctors, and lawyers specializing in cannabis laws, and nutrient stores for folks wanting to grow marijuana. If you are seeking access to buy your weed legally, the only way to do so right now in California is to have a current medical marijuana prescription from a doctor in order to go to a dispensary. Proposition 64 allows for recreational users to grow their own marijuana, up to 6 plants without being visible to the public. With the new regulations playing in this year, Los Angeles will soon emerge as the biggest cannabis industry in the world.

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