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California Coalition Delays Cannabis Vote Until 2016

Ryan Allway

February 19th, 2014

Policy, Top News

The Coalition for Cannabis Policy Reform announced that it would wait until 2016 to put its legalization proposal on California’s ballot despite receiving approval to circulate petitions and gather signatures this fall. While polls suggest that Californian voters would support the measure, the coalition wants more time to raise money and build public support.

The coalition, which includes members like the ACLU, NAACP, and Law Enforcement Against Prohibition, is just one of three marijuana legalization proposals that have been cleared to gather signatures this fall. However, the other two initiatives seem to have neither the funding or grass roots backing that may be needed to successfully gain a position on this year’s ballot.

Colorado and Washington have already legalized adult use cannabis and at least one December poll indicated that 55% of Californians now support legalization for the first time in more than 40 years. Colorado has already begun adult use sales, Washington plans to roll out its own system in June, and Alaskans and Oregonians could become the next to legalize pot.

Under federal law, cannabis remains a Schedule I drug under the Controlled Substances Act, although things are rapidly changing. Soon after President Obama pushed law enforcement to avoid prosecutions in states where cannabis was legalized, the U.S. Department of Justice and Treasury Department issued a joint memo outlining rules designed to encourage banking in the space.

In the end, U.S. cannabis policy continues to become more liberal over time but advocates are wisely choosing to take the time to do things right in California.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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