CANNAINVESTOR Magazine September / October 2016 - Page 66

The real losers if Prop 64 passes will not be the “No on 64” side. A vote in favor of legalization will take aim at tackling illegal trade and the black market. The state will earmark taxes toward enforcement, and introduce tighter controls on the movement of marijuana, in an attempt to disrupt distribution channels outside California’s borders. If legalization in CA has the same effect now being seen in CO and WA – contributing to falling marijuana prices – it will also move consumers away from the black market. Illegal trade has no real answer to the powerful combination of tighter controls, lower prices, and tested products.

Will it pass? “Yes on 64” supporters have raised far more in efforts to make it happen – a recent report suggests $11.5 million raised to support advertising and awareness campaigns, versus a paltry $185,000 raised on the “No on 64” side. If opinions are any indication, the last poll conducted by the Public Policy Institute in California in May suggested 60% of voters in favor of legalization.

But there is a long road ahead before November 8th, and in the meantime the battle is getting ugly: in August, both sides filed suits in court, with accusations of issuing false and misleading statements in campaigning, and a challenge against the wording in the Voter Information Guide describing Prop 64’s ballot meaning.

Rather than sit on the fence awaiting a final decision, we believe Prop 64 will pass on November 8th. If you’d like to join Marijuana Media in celebration, RSVP and we’ll keep you posted about (industry-focused) legalization parties and events being organized in Los Angeles.

(About the Author: Joel Andrew is President of Marijuana Media Inc., a Los Angeles-based media company covering the BUSINESS of marijuana. For more information about Marijuana Media, please visit our website at: http://marijuanamedia.com/)

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