As everybody knows, in Maine citizens will decide on recreational marijuana legalization in November 2016. A very important ballot, because it would legalize adult use and possession up to 2,5 ounces.
Announcement has been given last April from Secretary of State Matthew Dunlap, and now campaign to legalize marijuana is growing day by day.
Last 27th of June Matthew Dunlap declared that the initiative to regulate marijuana will appear on the state ballot as question n.1; and that’s because usually first question gets more votes having an higher chance to be approved.
Cannabis legislation in Maine is currently a little outdated: law criminalizes use and possession of marijuana, while many other US states are approving permissive laws. The proposed law contained in ballot as question n.1 would allow in Maine possession and use of marijuana under state law by persons who are at least 21 years of age; ballot also talks about the opportunity to allow cultivation, distribution, testing and sale of marijuana subject to state regulation and taxation.
Issue of taxation is very important because it’s believed that cannabis legalization would represent a great business for the state of Maine. This because other US states that already legalized recreational use of cannabis are experiencing a great economic growth.
There are many companies involved in legal pot industry. As for example Leafly, the world’s largest cannabis information resource, also known for producing videos describing the different and most famous cannabis strains as Barney’s Farm, Dutch Passion, White Widow and many others.
According to Leafly and its parent company, cannabis legalization in a state with prohibition laws, as the state of Maine is, would generate a great business: this year fledgling industry is expected to generate 7 billion dollars. By 2020 the amount could be 220 billion dollars.
This prediction is based on specific industry analysis and could be real if states with prohibition laws, as Maine is, would knock down their regulations. Beside that, for the industry of legal cannabis it would be important to ensure a clear regulation, that should be the same in all states: this because states where recreational use is allowed have problems with their laws, which are still in conflict with federal prohibition on cannabis cultivation and consumption.
For all these reasons there is still reluctance by some investors in being involved in legal marijuana industry. If they succeed in overcoming those issues, legal marijuana could become one of the richest industries in Usa, and with no doubts in Maine, where farmers who are now limited under medical marijuana system could have access to a larger market after legalization of recreational cannabis.