Screening News Update - February 19, 2016
- Medical Marijuana Sales Soar
- Maryland Lawmaker Seeks to Put Marijuana Legalization Question to Voters
- This isn't Cheers Anymore
Medical Marijuana Sales Soar
According to ArcView Market Research, legal retail sales of marijuana are expected to top $6.7 billion by the end of the year – that’s up from $5.4 billion last year. The non-medical, adult use market sales grew astronomically from $351 million to $998 million—that’s a 184% increase in one year. If the trend continues and more states legalize the sale of the drug, ArcView estimates retail sales could total nearly $22 billion by the year 2020.
In 2016, 11 new states will be putting the issue before the voters. California, Nevada, Arizona, Massachusetts, Maine, Rhode Island and Vermont will all be voting on allowing adults to grow, possess and use marijuana. Some will allow retail sales as well. Florida, Ohio, Missouri and Pennsylvania are expected to pass new medical marijuana laws.
Maryland Lawmaker Seeks To Put Marijuana Legalization Question to Voters
Maryland is also poised to join that group. State Delegate David Moon (D) just introduced House Bill 665 that seeks to put a constitutional amendment on the November ballot to regulate adult marijuana use. Voters would be deciding if they wish to regulate the cultivation, processing and retail of marijuana to adults over the age of 21. Before making it to the voters, the amendment must first pass with three-fifths of the vote in both chambers.
This isn’t Cheers Anymore
Forget hanging out with your friends at the bar… Actor Woody Harrelson, who first became known as "Woody" in the show Cheers, is one of 66 people applying for a medical marijuana dispensary license in Hawaii. The beautiful island state was the first in the US to legalize medical marijuana 16 years ago. In order to apply, a company must have $1 million in cash and $100,000 for each dispensary they plan to open. They must also be able to prove they have been residents of Hawaii for more than 5 years.