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Benzinga
Benzinga
Business
Nina Zdinjak

Hundreds Of Drug War Victims Apply For NY Dispensaries, Arkansas' Weed Windfall & More Updates

Wisconsin Gov. Evers Urges Students To Vote In November To Enact Cannabis Reform

Gov. Tony Evers (D), urged young residents to vote on the November ballot and support cannabis legalization. At a roundtable discussion at the University of Wisconsin-Madison, the governor told students “it’s time” for reform, reported Marijuana Moment. To make reform possible, young people need to vote, Evers said.

The governor joked about how Illinois Gov. Pritzker (D) is making money from Wisconsin residents who buy their weed in his state.

“We talk about this often, because he’s really glad that we have not legalized marijuana because the taxes that are made in Illinois from legal sales of marijuana helps them out a hell of a lot,” Evers said. “Not that any of you have gone to Illinois to buy marijuana, but I bet you maybe one of you has.”

“I am really tired” of prohibition, the governor said, adding that while he’s used his executive authority to grant pardons to people convicted of cannabis violations and completed their sentences, the state needs to move past criminalization altogether.

“The importance of all this is that we have to make sure that the use of marijuana is not something that gets you into the criminal justice system. So we need to legalize it,” Evers said.

Arkansas Could Make $1B In Annual Sales Of Legal Recreational Marijuana 

Legal adult-use cannabis in Arkansas could bring in $2.36 billion and create 6,400 over five years, according to a study released by Responsible Growth Arkansas, a group sponsoring an amendment that would legalize recreational marijuana. The study, done by economists at the Arkansas Economic Development Institute, found that the reform could create a $2.36 billion increase in GDP between 2023 and 2027, reported Arkansas Cannabiz. 

Examining cannabis programs in other states, researchers expect to see the Arkansas marijuana markets double in the first year of legalization, writes Arkansas Times. Dispensaries last year pulled in $264.9 million in sales and are poised to reach $270 million by the end of 2022, says Scott Hardin of the Department of Finance and Administration. 

The study projected sales growing from $665.6 million in 2023 to $984 million by 2027. 

Michael Pakko, chief economist and state economic forecaster at the Arkansas Economic Development Institute also noted that cannabis tourism would produce an additional economical boost. 

"As the only state in the South with legal adult-use cannabis, we might expect a boost to the tourism industry, adding value via money spent on cannabis, in addition to typical tourist spending," reported the Northwest Arkansas Democrat Gazette.

More Than 900 People Harmed By The War On Drugs Applied To Open Cannabis Dispensary In NY 

The deadline for applying for New York’s first cannabis retailer licenses ended on Monday with 903 submitted applications from people who have been most affected by the War on Drugs. In the first round of conditional adult-use retail dispensary (CAURD) licenses, only those who have been directly harmed by marijuana criminalization or whose closest family has cannabis convictions were eligible to apply, reported local media.

Of these 903 applications, the Office of Cannabis Management is expected to choose 150 applications for the first recreational cannabis shops before broadening the program. 

Philippines Senators Support Medical Marijuana Legalization 

Three Philippines senators shared their support for the proposed medical marijuana legalization bill, citing health benefits and expected financial profits for cultivators and the government, reported Business World.

At the Finance hearing on the budget of the Dangerous Drugs Board (DDB), Senator  Robin Padilla, who recently introduced a bill that would legalize marijuana as a compassionate alternative to medical treatment, challenged the stance of the DDB. Padilla argued that the UN has voted to remove marijuana from the list of the most dangerous drugs, recognizing the plant's medical value. If Padilla’s bill becomes law it would allow for marijuana to be legally used for research and medications.

To this remark, DDB Secretary, Catalino S. Cuy, responded that although the United Nations Office on Drugs Of Crime recognized the medical benefits of marijuana, it also warned about its risks.

At the same time, senators Ronald M. Dela Rosa and Christopher Lawrence “Bong” T. Go, supported the medical marijuana legalization proposal. 

Photo: Courtesy of Kindel Media by Pexels

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