“Representatives of the Baker Institute Drug Policy Program, in partnership with the South Texas College of Law, went to the Marijuana Investment Conference [Oct. 5-6th in Houston Texas] to talk to industry insiders about how they envisioned the future of the cannabis industry. Several common themes emerged. All of the attendees we talked to were excited about the profit potential for the emerging industry and cited the additional tax revenue and economic development opportunities as the greatest economic benefits to legalization.
“Not surprisingly, they also also favored a free-market legalization model, as distinguished from full state regulation, which is to be implemented in Uruguay in 2015. (Under the Uruguay model, the government will regulate marijuana production, sale, and consumption. Growers, sellers, and consumers will have to register with the Uruguayan government.) However, even though there was strong support for the free market model, several attendees also stressed the importance of the industry’s not becoming dominated by corporations and large-scale production. They also favored high-quality product standards, organically certified cannabis, and stringent testing for mold, mildew and other contaminants.”