In 2018, California is the largest marijuana market in the United States. After the legalization in the beginning of 2018 the sale of cannabis for adult entrepreneurs from across the country sought to obtain temporary licenses in the state and carefully studied the growing list of rules, sales and supply chain.
The emergence of new standards for packaging and marking at first caused dissatisfaction among retailers and distributors, as prior to July 1, they were required either to sell the old, non-compliant goods, or to throw it away. In this regard, many stores have started to sell their products at prices sales. It was expected that in California by the end of the year there will be over 6,000 licensed points of sale of marijuana. Instead, while being open 547.
Early tax collections grew slower than expected, but increased from $60,9 million in the first quarter to $93,1 million for the quarter ended October 31. In 2018, the legalization of marijuana industry brought in US $10.4 billion and provided a quarter of a million jobs related to cultivated plants.
In General, investors across North America have invested in 2018, $10 billion in the production of marijuana, which is twice more than was invested over the last three years combined. In 2019, this figure could reach more than $16 billion Legalization of marijuana in California has created a furore in the country. Almost two-thirds of U.S. States have legalized some form of medical marijuana, many are already going to do it. And 20 Dec Donald trump has signed a law which repealed the Federal prohibition on hemp.
Farm Bill Provisions Lifting Federal Hemp Ban Become Law https://t.co/XCph79hjAD
— NORML (@NORML) December 20, 2018
For 2018, the legislative Assembly of the state of California has approved a number of laws related to marijuana.
Here are the main ones:
- The law simplifies the process of removing information about the offenses related to the sale or storage of marijuana, or in mitigation of punishment.
- A law that prohibits licensed veterinarians to prescribe cannabis for a sick animal.
- A law that prohibits licensed sellers to disclose buyer’s personal data to third parties, except for the payment of goods or with the consent of the consumer.
- A law that prohibits licensed companies to sell any product that combines marijuana and alcohol.
