America’s Youth are Safe, Marijuana Legalization has not Led to Substance Abuse

Posted on September 29, 2017 by admin

Youth With each state that legalizes marijuana use, opponents express their concern that it will lead to a spike in drug abuse and crime. Cannabis activists, on the other hand, continue to proclaim the benefits of legalizing marijuana. So, who is right? Or do both sides have a valid point? Will legalization hurt America’s youth by increasing drug and alcohol abuse in young people?

A new working paper by researchers from the Consumer Financial Protection Bureau, Harvard University and Western California University shed some light on this issue. According to this study, liberalized marijuana laws have little positive or negative impact. The findings of this paper – distributed by the National Bureau of Economic Research – are based on annual surveys of high-school seniors. This ongoing study of American youth began in 1975.

However, other researchers have identified certain facts and statistics that involve both positive and negative effects. Some of the positive effects of more liberal marijuana laws include:

They appear to have reduced the use of cocaine and heroin among teens.
Regulation of marijuana has made drugs (e.g. salvia) and other narcotics appear riskier.
Where marijuana laws were liberalized, teens reported fewer days of illness and less fighting.
Studies have revealed that marijuana and its derivatives (such as the compound cannabidiol) are effective in treating epilepsy, chronic pain and nausea associated with chemotherapy, among other conditions.

Some of the less positive results include:

Marijuana liberalization was correlated with an increase in the ease of procuring psychedelic drugs, and barbiturates.
Looser cannabis laws have been associated with an increase in petty crimes like shoplifting.
Other statistics have shown that marijuana legalization has led to a higher number of traffic fatalities and hospitalizations.

At present, the marijuana industry is stuck in a tug of war. The beginning of September, the U.S. house rules committee blocked an amendment that would protect medical marijuana patients. To complicate matters further for the industry, Attorney General Jeff Sessions has indicated a willingness to go after businesses and individuals involved in the industry – in states where cannabis is legal for medical and/or recreational use.

This month, Sen. Orrin Hatch, R-Utah announced his plans to introduce a bill that would remove barriers that are currently preventing further research on medical marijuana. In addition, a group of senators introduced another bill that would end federal prohibition of medical marijuana.

Amidst this struggle, marijuana merchants are dealing with their own set of obstacles. Under strict federal regulations, merchants are unable to secure processing and funding from banks and other traditional financial institutions. Trying to avoid the danger of operating in cash only, many merchants turn to an alternative provider like Marijuana Merchant Account (MMA). In as little as 24 hours, these business owners can secure the medical marijuana merchant account they need to process debit and credit card transactions, accept e-checks (online and by phone) and obtain business funding.

Is 2015 the Year of Weed?

Posted on March 24, 2015 by admin

This year, lawmakers across the nation are introducing legislation for recreational and medical marijuana. This onslaught of bills has emboldened marijuana advocacy groups, and have potential investors hoping for an expansion of the pot market. Thus far, 12 states have passed legalization bills over the past 4 years. As American tolerance for medical and recreational use of marijuana increases, so do efforts to push through laws to keep recreational users from clogging the criminal justice system, and to tax the drug to bolster state economies.

Many marijuana advocates believe that 2015 will be a big year for cannabis. They feel that some opponents of marijuana reform have conceded that they are fighting a losing battle, and that concession is a huge step forward. Legislators have already introduced bills to legalize and tax recreational marijuana in 8 states. Another 10 states are expected to consider similar bills this year. In addition, another 16 medical marijuana bills are expected to be introduced in various state legislators this year.

All in all, that’s three dozen legislation measures that marijuana advocates are hoping will pass in 2015. While all of these measures won’t pass, there are a few states that advocates believe do have a better chance than others of getting through.

Recreational Marijuana

Rhode Island

Supporters believe that if the next bill passes as written, it will allow for the existing 3 MMJ facilities to expand to recreational use before new entrants are allowed to apply for business licenses.

Pennsylvania

MMJ advocates are hopeful in Pennsylvania, as the new Governor has come out in support of passing a MMJ program, as has House leader Republican Rep. Dave Reed.

Vermont

A bill was introduced in the state this month that would allow adults 21 and older to possess up to an ounce of marijuana, plus 9 plants for personal use. Non-residents however, can only possess a quarter of an ounce. The measure would also allow at least 4 retailers to operate in the state, but a maximum is not stated.

Florida

In 2014, Amendment 2 was narrowly defeated which would have expanded the MMJ program in Florida. MMJ proponents are eager to see how the newest bill to legalize medical marijuana in the state performs, since a Republican state senator introduced it.

Although new federal guidelines have made it easier for recreational and medical marijuana merchants to operate without penalty, traditional payment processors refuse to work with legitimate marijuana businesses. Without access to a recreational or medical marijuana payment processing, merchants cannot process credit or debit cards.

For fast and dependable medical marijuana merchant accounts, contact us today!

Legalization of Marijuana Creates New Economy in Denver

Posted on March 24, 2015 by admin

Since the legalization of recreational marijuana in Denver in 2014, the city has created a profitable industry where individuals and businesses can thrive. Now the city officially has more marijuana dispensaries than Starbucks, making it the place to be for new marijuana entrepreneurs. Although the city has been in the center of heated debates and punchlines, marijuana’s effects on the economy are no laughing matter.

Since its legalization, marijuana has created a large job market and increased tax revenue, to the tune of $44 million. Now smart entrepreneurs are rushing to the state to grow and sell their own special strands of marijuana. Companies are popping up left and right, dealing with all aspects of the marijuana trade. Many are creating marijuana-infused products, like sodas, lotions, cookies, and other edibles.

Once marijuana was legalized in Denver, many residents were concerned that it would lead to an increase in drug related accidents, drug related crimes, and drug use in children. Thus far, these fears have not come to pass. According to a Denver Post poll, crime rates have remained stable in the city, while its car fatalities and murder rate decreased in 2014. Also there has yet to be any definitive proof that legalization has increased the use of marijuana for people under 21 years of age.

Jack Strauss of the University of Denver, recently conducted a study on the economic impact of two of Denver’s major marijuana dispensaries, Colorado Harvest Company and Evergreen Apothecary. Strauss found that the combined economic impact of both stores was seven times the impact of the average restaurant or retail store in the metro area. Tax revenue from both totaled over $1.07 million for Colorado and over $390,000 for the city.

Despite the embracing of marijuana businesses in Colorado, many marijuana merchants still find it difficult to secure competent recreational or medical marijuana payment processing from traditional lenders. However, there are some experienced online payment processors that specialize in this area.

Learn more about expanding your customer’s payment options with credit and debit cards. Contact us today!

Obama Makes it Easy for Marijuana Users

Posted on March 24, 2015 by admin

President Barak Obama addressed Kansas City –based KMBC in February about how states could legislate their marijuana laws so that they discourage marijuana use, but don’t impose excessive penalties on recreational users. These comments come at a critical time for marijuana legislation in the country, as a growing number of states are decriminalizing or legalizing the drug. While some states have decided to stick with the current war on weed, others are looking at the drug as a source of new revenue for struggling state.

The comments come after Washington voted to decriminalize the use of small portions of marijuana. Obama defended the move despite the objections of some Republicans. He noted that while states should not encourage marijuana use, they should make a distinction between heavy drug users and recreational users.

Support for marijuana legalization is not only found in the Whitehouse and amongst marijuana users, but is being considered by multiple states in the Union. Desperate state governments are now taxing marijuana, and using the revenue to revamp necessary state programs. Legalization and decriminalization efforts have also cut spending on law enforcement, legal costs, and prison sentences.

Last August, Deputy Attorney General James Cole released a memo that basically ignores the Controlled Substances Act if a specific state has legalized marijuana use. Currently, more than 20 states have either legalized or decriminalized the use of recreational or medical marijuana. Some individuals in these states have started profitable businesses selling medical or recreational marijuana, but are having a difficult time expanding their businesses because most banks refuse to work with them.

In support of the Whitehouse’s position on marijuana, new federal guidelines have made it easier for marijuana merchants to operate without penalty if the state allows it. Still traditional banks believe the new guidelines still place a heavy burden on banks if the marijuana merchants they support turn out to be illegitimate. Therefore, most bank officials have decided to refuse steer clear of marijuana merchants for now.

Without access to a recreational or medical marijuana payment processing, merchants cannot process checks or credit cards. This means that products can only be purchased with cash, limiting merchant potential to expand online.

For fast and dependable medical marijuana merchant accounts, contact us today!

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Tag Archives: Medicinal Marijuana

America’s Youth are Safe, Marijuana Legalization has not Led to Substance Abuse

Is 2015 the Year of Weed?

Legalization of Marijuana Creates New Economy in Denver

Obama Makes it Easy for Marijuana Users

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