Marijuana Industry Struggles Against Tough Politics

As attempts to approve marijuana’s use in other states and cities falters, these industries face unexpected road blocks.

COLORADO:  Colorado’s effort to tax marijuana as a means to help the state budget never materialized, at least financially,  slowing expansion of industries supported by the drug. As attempts to approve marijuana’s use in other states and cities falters, these industries face unexpected road blocks.

Analysis by trade site Cannabis Executive shows how much the efforts to legalize marijuana vary. A number of doctors in Minnesota won’t support the use of medical marijuana by some patients. Medical marijuana is often considered the foot in the door that the industry needs for broader state legalization approval. Medical marijuana advocates in Iowa continue to complain that the state legislature, particularly Republicans, have blocked their progress to gain approval for use. A law to legalize medical marijuana has cleared all legislative hurdles in the state, but state approvals are sometimes not sufficient. Problems with federal opposition to marijuana use have triggered raids of facilities in California. The future of the marijuana  economy may be settled in federal court

 

And, a number of states are far away from approving marijuana use of any kind. These include New Hampshire and, possibly Arizona, where a poll shows public support of legalization of the drug.

 

Lost in the battle for legalization of marijuana is that the industries around it are tiny, especially for businesses which have staked their futures on expansion state by state. In Colorado, income from marijuana taxes has come in well below expectations. Hope that taxes on marijuana might match income for legal gambling or cigarette taxes have proven more than disappointing.

 

 

 

 

Read full article @ 247 Wall St.

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