Status: Occurring
Prediction: States will get high on pot
“California is running an experiment that’s likely to spread across the entire country. It’s called taxation. They’ve decriminalized and taxed a substance that is statistically safer than booze but has the stigma of hard drugs. Governor Cuomo of New York is
already studying the issue, presumably under the strict supervision of Dr. Snoop Dog.”“There’s big money in decriminalization. In 2008, Harvard economist Jeffrey Miron estimated that drug legalization would bring in almost $77 billion a year. That includes $44 billion from law enforcement savings and the rest from tax revenues.”
Econovation, 2011, p.61
What Happened
Marijuana taxes and a surplus expected to boost California budget, 2018
These States Are Most Likely To Legalize Pot Next, 2013
“Attorney General Eric Holder gave a green light on Thursday to two states whose efforts to legalize marijuana had been locked in by legal uncertainty for more than nine months. With that announcement, Colorado and Washington — both of which passed pro-pot initiatives at the polls last November — can now proceed with establishing a framework for the taxation and regulation of legal weed for adults.”
Entrepreneurs Seek Profits From Pot, 2016
Big Brewer Makes a Play for Marijuana Beverages, 2016
“Corona brewer to invest nearly $200 million in Canadian marijuana grower, with plans to develop cannabis-infused drinks.”
The Economist- Consumer Goods: Pot, 2016
“America’s cannabis industry prepares for new highs.”
In California, Marijuana Is Smelling More Like Big Business, 2016