CALIFORNIA LEGALIZE RECREATIONAL MARIJUANA

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California-legalised-marijuana

CALIFORNIA IS RINGING IN THE NEW YEAR ON A HIGH NOTE. THE LARGEST STATE IN THE UNITED STATES TO LEGALIZE RECREATIONAL MARIJUANA USE.

As of 1 January 2018, adults aged over 21 can possess up to an ounce of Cannabis and can grow up to six marijuana plants at home.

Businesses in California are eyeing what could be an industry worth tens of billions of dollars in the next few years.

It might be a bit difficult to locate a store to purchase your recreational drug as only about 90 businesses have secured licenses to begin their sales today, Many cities including Los Angeles and San Francisco were not able to approve local regulations in time to issue state licenses. Fresno, Bakersfield, Riverside and a few other communities have outlawed recreational marijuana sales altogether.

The potential rewards are huge in the US’s wealthiest and most populous state.

In 1996, California was the first state to legalise marijuana for medicinal use.

But Arcview estimates the illegal cannabis market is currently worth an annual $5.1bn (£3.8bn) and once legalised could be worth $5.8bn by 2021.