3 New California Marijuana Laws Will Prepare the State for $5 Billion Cannabis Boon

The legalization of recreational marijuana sales in California could create a $5 billion annual windfall for the state, and three new California marijuana laws are being implemented to prepare CA for the boon.

On Nov. 17, 2017, the Bureau of Cannabis Control released 276 pages of regulations California marijuana businesses must abide by on Jan. 1, 2018. That's when recreational sales are officially legal.

California marijuana laws

Three of the most important California cannabis laws provide clear guidelines on how businesses should operate. By knowing all the laws, more companies can meet the compliancy needed to obtain cannabis licenses.

More licenses means more marijuana can be sold.

The laws also help protect the safety of children, communities, and cannabis customers, which will lead to less opposition for businesses trying to set up a new location.

They include:

  1. Cannabis businesses can't be located within 600 feet of schools.
  2. Shops have to close by 10:00 p.m.
  3. Cannabis businesses need 24-hour video surveillance.

And even if those laws seem like no-brainers, it's still important that the Bureau of Cannabis Control published them now.

The biggest takeaway for investors is that California is still on track to legalize cannabis on Jan. 1, 2018.

And we have all the details on how investors can stake their claim in the future $5 billion California cannabis market...

California Marijuana Laws Set the Stage for a $5 Billion Windfall

California state agencies had a difficult task unifying medical and recreational marijuana legalization.

In 2015, Gov. Jerry Brown (D-CA), signed three bills that mandated California have comprehensive regulations on medical marijuana by 2018, according to The Cannabist.

Three different departments then started work on creating those regulations.

The Department of Food and Agriculture worked on rules for cultivators. The Department of Public Health worked on rules for manufacturers, and the Department of Consumer Affairs' Bureau of Cannabis Control worked on rules for retailers, distributors, and testers.

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During the planning phase for medical cannabis regulations, Proposition 64 was passed on Nov. 8, 2016. That legalized recreational marijuana use in the state.

The goal of the agencies was to release medical marijuana regulations in the fall of 2017, and the regulations would shape recreational marijuana laws in California.

However, Senate Bill 94 called for merging recreational and medical marijuana laws into one unified system, and it passed in June 2017.

In September, the three agencies withdrew their draft for medical regulations and started on a new set of rules.

The rules, including the three we mentioned earlier, were released on Nov. 17.

Lori Ajax, the chief of California's Bureau of Cannabis Control, says there's still a lot of work to be done, according to The Cannabist.

However, clarifying the regulations for California marijuana shops, distributors, testers, cultivators, and manufacturers is putting the state on track to sell recreational marijuana.

And when that happens, it will become the epicenter of the U.S. marijuana industry...

Legal marijuana sales in North America are projected to reach $24.5 billion by 2025, according to New Frontier Data.

California could account for 20% of those sales or more, with the University of California's Agricultural Issues Center projecting the state's total marijuana sales will be $5 billion annually.

Special Report: Cannabis Is the Gold Rush of the 21st Century - 30 Stocks to Invest in Now. Details Here...

"At this point, it's impossible to know marijuana's full economic impact on California, but it's safe to say it will be in the billions of dollars. Other states will look at California's success in rolling this out as their model for legislation," Money Morning Director of Technology and Venture Capital Research Michael A. Robinson told me.

The vote across America for marijuana legalization is expected to create one of the biggest wealth grabs in history, transforming everyday Americans into millionaires overnight.

That's why Robinson has created the "bible of weed investing" for Money Morning readers.

Your Next Profit Opportunity Is in the Marijuana Industry

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Michael is one of our most prominent and respected investing "gurus" here at Money Map Press - and for good reason. He is one of the top financial analysts working today. Make no mistake: Michael's ideas are completely his own. He's a true original. He works solely for Money Map Press... and receives absolutely no compensation from companies he writes about.

His book, "Overdrawn: The Bailout of American Savings," was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style.

Michael's 30-year track record as a leading tech analyst has garnered him rave reviews, too.

As editor of the financial newsletter American Wealth Underground, Michael amassed an amazing track record using rigorous investing. The first analyst to uncover the rare earth mineral crisis, he amassed cumulative gains of 990% for his readers in just 16 months.

Our Readers Rave About Michael A. Robinson

"Just a note to let you know, I read hundreds of emails a day, many from news sources like Huffington Post, and dozens of investment newsletters, some trying to sell me a subscription and some I subscribe to. None of them provide me the forward thinking and outstanding reporting on the future of science, industry, and humanity as does your reporting. I love it and hope you never stop." ~ Jay C.

"We need more people like you on the planet - keep up the incredible research you are doing - make it happen. My glass is always half full." ~Calvin M.

"Your column is absolutely fascinating. It makes me dream and feel hope." ~ Elizabeth R

It's no wonder that prestigious publications vie for his analysis. He's written for Defense Media Network and Signal Magazine, as well as The New York TimesAmerican Enterprise, and The Wall Street Journal.

His research is world class, too. The Oakland TribuneDetroit NewsThe San Francisco ExaminerThe Kansas City TimesWealth Magazine, and American Banker all publish his reporting. He has appeared on Larry King's syndicated radio show.

Robinson has an honors economics degree from the University of Missouri at Columbia with a minor in journalism.

And as a service to Money Morning readers, we're now making available a 90-page cannabis investing guide called The Roadmap to Marijuana Millions.

This "bible of weed investing" reveals the world's top marijuana stocks every serious investor should consider right now.

Here are all the details...

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