Marijuana

Colorado Weed Shops Have Sold Over $1 Billion In 2016

The first ten months of 2016 marked a historic moment for the legalized cannabis industry as Colorado Cannabis shops reached a milestone of a $1 billion in regulated, legal cannabis sales.

New October data from the Colorado Department of Revenue shows that recreational and medical cannabis shops in Colorado have sold over $1.1 billion worth of marijuana products so far this year.

This total eclipses last year’s sales figures which fell just shy of the billion dollar mark at $996 million.

The state of Colorado was the first American state to legalize recreational marijuana in 2012 with the passing of the Colorado Amendment 64.

Photo Credit: John W. Schulze/ Flickr (CC By 2.0)

Photo Credit: John W. Schulze/ Flickr (CC By 2.0)

The state had previously decriminalized the drug in 1975 and allowed medical use of cannabis upon prescription in the year 2000.

Marijuana retailers in the state reported record sales in the month of September 2016 when marijuana sales hit an all-time high in Colorado.

$82.8 million worth of marijuana was peddled at retailers in the month of October along with $35 million more in medical sales.

These figures marked a 46% cumulative year upon year increase for October.

The state government has collected over $151 million in taxes from legal Marijuana sales. Three different taxes are imposed on recreational marijuana in the state of Colorado – the standard 2.9 percent sales tax, a special 10 percent sales tax, and a 15 percent excise tax on wholesale transfers of which the first $40 million is earmarked for school construction projects.

ArcView Group, a research firm which specializes in the Cannabis industry, estimates that the legal marijuana industry in the United States could reach a figure of $22 Billion in total annual sales by the year 2020.

It is important to note, however, that the drug remains illegal on a federal level although it has been voted into legalization by several states. It remains to be seen how President-Elect Donald Trump’s administration will deal with the issue of marijuana legalization.

Although Colorado was the first state to legalize recreational marijuana, three more states of Alaska, Oregon and Washington have also launched legalization programs of their own.

Last month, voters in California, Maine, Nevada and Massachusetts have all voted in favor of legalized recreational pot. Medical Marijuana is also legal in 28 states.

RISE NEWS is a grassroots journalism news organization that is working to change the way young people become informed and engaged in the world. You can write for us.

Cover Photo Credit: Jeffrey Beall/ Flickr (CC By 2.0)

The Dollar High Club Is Trying To Revolutionize The Way People Get Weed Supplies

Are you a smoking aficionado? Ever run out of smoke supplies and get too slumped to leave your couch?

Well then Dollar High Club’s got you covered.

Dollar High Club is a monthly subscription service that discreetly delivers smoking supplies (intended for tobacco…right).

“A lot of people don’t have access to affordable smoking supplies, and we want to change that,” Harrison Baum, the founder and CEO of Dollar High Club told RISE NEWS.

For only a dollar a month you can receive 1.25 size all natural papers, all natural filter tips, 3.3’ organic bee wick and a matchbook.

That’s a good amount of smoking supplies for a dollar.

They also offer the option to subscribe for the Connoisseur package for $12 a month that comes with 7-9 products or the El Primo package for $30 a month that comes with 10-15 products.

Essentially, it is the smoking equivalent of the Dollar Shave Club.

When I first heard about the company, I was eager to learn more and my question to Baum was, how did you come up with this idea?

“It was a idea I came up with while browsing Reddit Trees and Reddit Entrepreneur,” Baum said. “I put the idea on Reddit, it topped r/Trees, and then I quit my day job that week and it changed my life.”

Sometimes the best ideas hit you out of nowhere, and that’s exactly what happened to Baum.

“We want to change the stigma surrounding smoking, by making it accessible to the everyday person worldwide,” Baum said.

The company has its own warehouse and can ship products to anywhere around the country.

They plan to get the word out using more grassroots means via social media including humorous content creation on YouTube and Facebook.

With that being said they just released a new video on Youtube that topped Reddit videos for a short time. It is a parody of the famous Dollar Shave Club commercial.

Check it out:

RISE NEWS is a grassroots journalism news organization that is working to change the way young people become informed and engaged in public affairs. You can write for us.

 

Cover Photo Credit: Dollar High Club/ Facebook

Broward County Just Decriminalized Small Amounts Of Marijuana

Change is coming to the drug laws in one of Florida’s biggest counties.

The Broward County Commission just voted to decriminalize small amounts of marijuana.

Police officers now have the option to give out a ticket instead of arresting people that are stopped with a marijuana possession charge. First offense would carry a $100 fine, second offense would carry a $250 fine and a third offense would mean a $500 fine and a mandatory assessment of the lifestyle of the offender. There is a three citation max.

More to come. Stay with Rise News. 

Cover Photo Credit: Martin Alonso/ Flickr (CC By 2.0)

DOGG: Snoop Dogg Launches Own Line Of Marijuana Based Products

Snoop Dogg, the well known rapper and lover of marijuana has launched his own line of weed called Leafs By Snoop.

The line is available for purchase at 10 Colorado marijuana stores and has a flashy website.

Snoop Dogg launched the line at a party last night at what Rolling Stone Magazine described as a “surreal suburban house party” in Denver.

“It’s a true blessing that I can share the products I love so much with y’all today,” Snoop Dogg said in a statement obtained by CNN. “From the flower, to the concentrates, and edibles – it’s all hand-picked by yours truly so you know it’s the hottest product out there. It’s the real deal and you gotta get out to Colorado to try it first!”

The line includes 8 types of flowers and multiple edible choices from peanut butter gems, fruit chews and gummies.

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Cover Photo Credit: Leafs By Snoop/ Youtube (Screenshot)

LIVE Results: Ohio Voters Refuse To Legalize Marijuana After Contentious Campaign

Should Have Ohio Voters Passed Issue 3 Tonight?

View Results

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Update: Multiple national media outlets, including the Associated Press has projected that Issue 3 will be defeated tonight.

Voters across Ohio went to the polls today to vote on a series of ballot measures that could have big implications in their daily life. Two of the three ballot measures have to do with the potential legalization of marijuana for both medicinal and recreational use.

If passed, Issue 3 would allow Ohioans to use marijuana and would allow for a small select group of growers- 10 in total. Some, including a large amount of state lawmakers oppose limiting the grower pool to just 10 sites and want to see a more free market approach to how the marijuana market is set up in the state.

If passed, Issue 2 would mean that Issue 3 could not be enforced. Issue 2 would “prohibit monopolies, oligopolies and cartels that deliver economic gain to individuals from being inserted into Ohio’s constitution,” according to WLWT.

Live Results: As Of 1:55 AM EST

Percent of State Vote Counted: 97.61%

Issue 3- Marijuana Legalization:
Yes: 35.86%
No: 64.14%

Issue 2- Anti- Marijuana Monopoly:
Yes: 51.68%
No: 48.32%

Stay with Rise News as we follow the results

Cover Photo Credit: Brett Levin/ Flickr (CC By 2.0)

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