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Self Defeating: California’s Race to Legalize Cannabis in 2016

Ryan Allway

March 12th, 2015

Policy, Top News

California has long been a hotbed for the cannabis legalization movement, given its liberal demographic and status as the largest state in the union. Despite the growing support for legalization, the growing number of ballot initiatives could derail the movement as a whole – as already happened back in 2010.

As of mid-March, there are already four groups attempting to legalize cannabis in California. The Marijuana Control Legalization and Revenue (“MCLR”), California Cannabis Hemp Initiative, California Artisan Cannabis Initiative, and the Coalition for Cannabis Policy Reform have each introduced their own proposals.

These organizations remain in the early stages of their programs, with experts saying that it could take upwards of $20 million for staffing and advertising to legalize cannabis in the state. Without even a submission to the Secretary of State yet, the first step in the process, industry leaders are waiting to see who makes the filing by July 7th and reports a sizeable enough war chest of funding by August 1st.

The problem with multiple initiatives is the division among voters, who only favor legalization by a slim margin, according to recent polls. After all, these initiatives must gather enough signatures in order to even appear on the ballot (which they have historically failed to do) and compete with each other for the slim majority of voters – a problem that derailed similar efforts back in 2010.

The good news is that record-low voter turnout has significantly lowered the bar for passing such initiatives this year.

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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