THE world's "sixth largest economy" will decide next month whether to legalise marijuana.
"Given California's size, given its history as the source of legal and illegal marijuana for California and much of the nation, the fact that it's coming online changes the equation significantly", Sam Kamin, a professor of marijuana law and policy at the University of Denver, told the newspaper.
With a $2.46 trillion output in 2015, California is technically ranked only behind the UK, Germany, Japan, China and the United States of America as a whole.
On purely a revenue basis, cannabis is quickly becoming one of the largest industries in the state, according to MPG's report. For example, selling marijuana for non-medical purposes is now punishable by up to four years in state prison or county jail.
If approved, Proposition 64 will allow people above the age of 21 to possess up to an ounce of marijuana.
California can not continue to ignore the invisible hand of the marketplace that has already transformed the economics of cannabis. Chaitanya and other traditional growers who support Proposition 64 believe discriminating consumers will pay a premium for Northern California marijuana.
"You can not use marijuana, ingest marijuana in any way, in public", he said.
Proposition 64 imposes state taxes on sales and cultivation.
Sales of marijuana will begin on 1 January 2018 if the vote is passed and are estimated to add an additional $1.5 billion into the marijuana market - bolstering an already thriving medicinal marijuana market.
"The state will be in charge of licensing cultivators, manufacturers, distributors and retailers of non-medical marijuana", Miadich said, "just like it is for medical marijuana".
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Supporters call Prop. 64 the "gold standard" of marijuana legalization, touting strict safeguards that build on lessons learned by the four states that already allow recreational pot.
"The penalty for cultivating more than six cannabis plants will be a misdemeanor under Prop 64, but is now a straight felony", said Mike Donaldson, a California defense lawyer, in a statement on his website.
It is estimated the USA marijuana retail market could generate billions in revenue every year.
Discount Tire Co., which is locally owned, recently donated $1 million to fight legalization.
In October a year ago Gallup reported 58% of Americans favoured legalising marijuana. A recent poll from Gallup shows that 60 percent of Americans support legalization.
As California's marijuana community (and the rest of the country) anxiously await November 8th, and what has quite possibly become our nation's most divisive election yet, it's almost our last chance to look closely at Prop 64 before deciding as a state if we'd like to enact it.
"Do the risks of legalisation outweigh the costs of prohibition?" These ordinances will only be implemented if Proposition 64 passes.
If the measure is approved, all of these personal rights would take effect the day after the election, on November 9. And a 2011 California law pushed by the Democratic-controlled Legislature and signed by Democratic Gov. "It is ultimately better for public health, for law and order and for society if marijuana is a legal, regulated and controlled product for adults".
A wide range of opponents have emerged, including a pharmaceutical company that makes a powerful opiate-based oral spray and is developing a synthetic version of marijuana's psychoactive ingredient, local chambers of commerce and several businesses.
The Beverley Hills mums claim that taking pot helps to relieve medical problems and creates a relaxed environment in their houses.