Experts predict that Washington State is going to make even more money than originally estimated off the state’s legal recreational marijuana market.
The Economic and Revenue Forecast Council announced Wednesday that it expects the industry to bring in more than $694 million in tax revenue through mid-2019. In September, the council predicted that $636 million would be made in that time, showing an increase of $58 million in the estimate after just two months.
I wonder what it’ll be in January.
Seattle City Attorney Pete Holmes announced yesterday that he will seek dismissal of all tickets issued for public consumption of marijuana in the first seven months of the year, since 80% of them were written by a weed-hating cop with a personal vendetta against Washington’s legalization laws—and the city attorney himself.
Woo-hoo! Weed is totally legal in Washington, right?! Wrong.
Washingtonian’s did not approve carte blanche pot legalization when they passed Initiative 502 in 2012. Rather, they ended failed cannabis prohibition in favor of an unprecedented cannabis regulation system that’s still in the works. Here’s the ten most important things to know about Washington’s new legal marijuana rules.
When do stores open?
At one time 36-year-old Patrick Moen dedicated his career to taking down those who trafficked in illicit drugs as a Supervisor for the Drug Enforcement Administration. Now he is on a new path as the in-house lawyer for a private-equity firm called Privateer Holdings Inc., which specializes in finding marijuana-related businesses to invest in.
Poor, New Yorkers -- children of the self-proclaimed capital of the world, with drug laws that look like Alabama. The New Yorker takes an expectedly jaundiced look at the implementation of Washington's Initiative 502, going for the headline "Buzzkill", and the subhead 'Washington state discovers it's not so easy to create a legal marijuana industry.'
Last month a legislatively-appointed workgroup suggested repealing most of Washington State's voter-enacted medical cannabis law—in part to ensure more revenue for the new voter-enacted recreational pot law. In the ensuing uproar from patients across the state, the workgroup scheduled a public hearing on the draft recommendations, set for this Wednesday, November 13 from 6-9 p.m. at 5300 Pacific Ave., Lacey, WA 98503.