According to a new poll, almost three-quarters of Americans favor legalizing marijuana within their respective states for medical use, while just 18% oppose such a measure. A majority also believe legalizing pot could help boost tax revenues in their state.
The U.S. Drug Enforcement Administration has taken emergency action to begin the process of banning synthetic marijuana, smokable leaves coated in chemicals to mimic the effect of pot. The chemicals have been the subject of a growing number of medical complaints such as seizures, hallucinations and dependency.
Many are watching to see if voters say yes to Proposition 19, the controversial ballot measure that would legalize marijuana in California. Advocates say it would be a moneymaker. Opponents see nothing but trouble ahead if Prop 19 passes.
Billionaire financier George Soros is spending $1 million to support a California proposition that would legalize marijuana for recreational use. In a opinion piece in The Wall Street Journal, he wrote that the measure would be "a major step forward."
If the recession and subsequent high employment proves anything, it's this: The scarcity of jobs hasn't made workers any smarter. Just-fired CNN anchor Rick Sanchez is a good example. Unfortunately, he's hardly the only one.
Colorado is instituting tougher regulations for this booming industry. Dispensaries must now comply with rules regarding licensing, local zoning laws and criminal background checks for owners. They also have to grow at least 70% of the marijuana they sell. Stricter standards will push many out of business.
Colorado, where medical marijuana has been legal for a decade, recently passed new laws regulating the hundreds of dispensaries that have popped up to meet soaring demand. Not everyone there is happy about that boom, but most of these businesses probably won't last long anyway.
DailyFinance recently looked at companies that may benefit if California legalizes marijuana, a question set for the November ballot. To learn of the actual consumption habits of the marijuana demimonde, we asked some experts in New York a burning question: Sweet snacks, or savories?
When the state of California announced that a marijuana legalization measure would be on the state's November ballot, the ensuing discussion covered a range of topics from medicine to morality. But few pundits brought up the biggest factor of them all: money. With a potential market of millions of pot smokers, decriminalization of marijuana could open the door to a vast, largely-untapped market for smoking paraphernalia, accessories and other lifestyle accoutrements.
