This article covers the issues of selling medical marijuana legally and what is going on with trying to regulate these clinics. Some interesting excerpts follow below. To read the full article please click here .
One of the odder experiments in the recent history of American capitalism is unfolding here in the Rockies: the countryâ€™s first attempt at fully regulating, licensing and taxing a for-profit marijuana trade. In California, medical marijuana dispensary owners work in nonprofit collectives, but the cannabis pioneers of Colorado are free to pocket as much as they can â€” as long as they stay within the rules.
More than 80,000 people here now have medical marijuana certificates, which are essentially prescriptions, and for months new enrollees have signed up at a rate of roughly 1,000 a day.
As supply met demand, politicians decided that a body of regulations was overdue. The stateâ€™s Department of Revenue has spent months conceiving rules for this new industry, ending the reefer-madness phase here in favor of buzz-killing specifics about cultivation, distribution, storage and every other part of the business.
Americans spend roughly $25 billion a year on marijuana, according to the Harvard economist Jeffrey Miron, which gives some idea of the popularity of this drug. Eventually, we might be talking about a sizable sum of tax revenue from its sales as medicine, not to mention private investment and employment.