the article states ” Legal cannabis markets in the United States”
That is a false statement. Sure, there may be two areas in the country that have passed local laws… however, Federally this is still illegal. Federal Law in these matters is over State, or local law. So while the Federal Govt may be sitting on the side to see how the local laws work in practice, that does not change the fact that marijuana is still illegal in the USA
However, the current Administration (including Holder) said they would not pursue the Federal Laws if the state has legalized its use be it full legalization or medical marijuana. Even DC has medical marijuana laws in place.
I agree Libby… I am just pointing out the fact that Federal Law still says this is illegal. Even if Holder says he won’t pursue cases,,, the law is still on the books. The insurance policy is not intended to insure illegal operations. Before the industry can officially begin to insure these operations, there must be a change in the federal law.
I would think the growth rate, financial impact, etc would mirror the alcohol industry’s growth rate and acceptance when it became legal. It has the potential to be a big deal.
Agree, but the issue (one of them)that has been dogging the move forward is determining a “legal limit”. One time use can be detected for weeks, but you are no longer under its influence. Unlike alcohol, where a 1.0/0.8 is defined in many states, marijuana doesn’t have an establish threshold that all parties can agree to or a detection method that is limited to a specific timeframe. Overcome some of these issue and I think we could have a quasi-established commercial market.
Maybe reviewing and investigating how limits, etc are handled in Europe can help guide how things can be done in the US and eventually here in Canada. That way it is a starting point for the insurance industry as well and a transition to the legalization federally would be easier.
the article states ” Legal cannabis markets in the United States”
That is a false statement. Sure, there may be two areas in the country that have passed local laws… however, Federally this is still illegal. Federal Law in these matters is over State, or local law. So while the Federal Govt may be sitting on the side to see how the local laws work in practice, that does not change the fact that marijuana is still illegal in the USA
However, the current Administration (including Holder) said they would not pursue the Federal Laws if the state has legalized its use be it full legalization or medical marijuana. Even DC has medical marijuana laws in place.
But it shouldn’t be.
I agree Libby… I am just pointing out the fact that Federal Law still says this is illegal. Even if Holder says he won’t pursue cases,,, the law is still on the books. The insurance policy is not intended to insure illegal operations. Before the industry can officially begin to insure these operations, there must be a change in the federal law.
I would think the growth rate, financial impact, etc would mirror the alcohol industry’s growth rate and acceptance when it became legal. It has the potential to be a big deal.
Agree, but the issue (one of them)that has been dogging the move forward is determining a “legal limit”. One time use can be detected for weeks, but you are no longer under its influence. Unlike alcohol, where a 1.0/0.8 is defined in many states, marijuana doesn’t have an establish threshold that all parties can agree to or a detection method that is limited to a specific timeframe. Overcome some of these issue and I think we could have a quasi-established commercial market.
Maybe reviewing and investigating how limits, etc are handled in Europe can help guide how things can be done in the US and eventually here in Canada. That way it is a starting point for the insurance industry as well and a transition to the legalization federally would be easier.
It would bode well for the marijuana industry to choose carefully where dispensaries are placed.
I can think of one dispensary in my County that opened up right across the street from a pre-school…..Not a good idea.
Right next to the liquor store and pawn shop?