Washington State Readies for Legal Marijuana

Washington state is getting ready for legal marijuana, becoming the second U.S. to legalize the substance for adults. Sales of cannabis started in 24 locations around the state yesterday.

Colorado legalized marijuana on January 1st. Sales there were strong, bringing tens of millions of dollars in tax revenue into the state. Similar sales are expected in the Evergreen State, possibly leading to shortages of cannabis. In the short term, this could raise prices at the retail outlets, until producers are able to meet demand. In Colorado, prices for an ounce of marijuana were over $300 in the first few days of legalization. Now, that same amount of high-quality cannabis can be purchased for as little as $85.

One unexpected result of legalized cannabis in Colorado has been the rise in popularity of food products made with marijuana. Medical marijuana patients tend to buy raw buds and hashish instead of products meant for eating. But, in Colorado, demand for foods containing cannabis is skyrocketing, leading to marijuana chocolates, energy drinks, and even salad dressings.

Only around one-quarter of the licensed outlets opened on the first day. Some of these locations sponsored grand opening sales, to celebrate the first day of legal sales of cannabis in Washington state. Transportation of marijuana was legalized just after two in the morning on Tuesday, allowing stores to stock up on product before opening for the first day of sales.

Mason Tvert from the Marijuana Policy Project said, “This is a major shift in public policy, so it is not going to be perfect at first. Like with alcohol, it will take some time to determine which regulations work and which do not.”

The first sting operation in Colorado trying to find stores selling to minors found a 100 percent compliance rate with state and local laws.

Lawmakers in Olympia expect to collect $190 million dollars in tax revenue from marijuana in the next four years.

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