Wednesday, January 31, 2018
Today I have seen two notable new articles making much of where marijuana reform stands as of January 2018. CNN Money has this new article headlined "The U.S. legal marijuana industry is booming." It starts this way:
It's 2018 and marijuana remains illegal in the United States. But continued federal prohibition hasn't stopped the marijuana industry from growing like a very profitable weed.
Despite what could be considered an unfriendly administration in Washington D.C., nine states and the District of Columbia now allow for recreational marijuana use and 30 allow for medical use. And more states are lining up to join the legalization wave. Pot has become big business in the U.S.
The emerging industry took in nearly $9 billion in sales in 2017, according to Tom Adams, managing director of BDS Analytics, which tracks the cannabis industry. Sales are equivalent to the entire snack bar industry, or to annual revenue from Pampers diapers.
That was before California opened its massive retail market in January. The addition of the Golden State is huge for the industry and Adams estimates that national marijuana sales will rise to $11 billion in 2018, and to $21 billion in 2021.
The industry has also been creating jobs and opportunities. There are 9,397 active licenses for marijuana businesses in the U.S., according to Ed Keating, chief data officer for Cannabiz Media, which tracks marijuana licenses. This includes cultivators, manufacturers, retailers, dispensaries, distributors, deliverers and test labs.
More than 100,000 people are working around the cannabis plant and that number's going to grow, according to BDS Analytics. The industry employed 121,000 people in 2017. If marijuana continues its growth trajectory, the number of workers in that field could reach 292,000 by 2021, according to BDS Analytics.
And German Lopez at Vox has this new piece headlined "January was the biggest month yet for marijuana legalization, despite Trump’s new war on pot." Here is how it starts:
January 2018 was the most important month yet for marijuana legalization.
Things looked rocky a few days into the month, when President Donald Trump’s Department of Justice, led by Attorney General Jeff Sessions, rescinded an Obama-era memo that protected states that had legalized marijuana from federal interference. Because cannabis remains illegal at the federal level, the federal government can still crack down on pot even in states where it’s legal under state law for recreational purposes.
But the announcement came and went with little sign that the Justice Department will actually do much in its new war on marijuana. The agency was unclear when reporters asked if the move will actually lead to more anti-marijuana prosecutions. And in the aftermath, federal prosecutors across the country released statements that were either vague or indicated that they won’t lead to a new wave of anti-marijuana crackdowns in places where pot is legal under state law.
Meanwhile, California at the beginning of the month opened the world’s biggest legal market for recreational marijuana — following voters’ decision in 2016 to legalize pot for recreational purposes and allow sales of the drug.
Then, after Sessions announced his new marijuana policy, Vermont legislators, with the support of Republican Gov. Phil Scott, legalized marijuana for recreational use. The law won’t allow sales — only possession and growing. But it’s a big move because Vermont is now the first state to have legalized marijuana through its legislature.
All of this adds up to a huge month for marijuana legalization. If even a federal threat over marijuana legalization didn’t stop Vermont’s legalization momentum or slow down California’s massive new legal pot market, what, if anything, will stop more states from going down the same path?