California’s importance to the cannabis community almost cannot be overstated. Representing greater than 10% of the the United States’ population and economy, California’s economic impact really dwarfs other states, accounting for a greater gross state product than Texas and Illinois combined, as well as New York and Florida put together. The Golden State’s economy ranks 9th in the world, just ahead of 10th place Russia.
California’s economic impact translates to cannabis commerce as well. It has been estimated that nearly half of the regulated marijuana sales occur in California as the state has already generated billions of dollars in sales and collected millions of dollars in tax revenue. The sheer size of the California marijuana market thus far is even more impressive considering the fact that the state has only legalized medical use, albeit a very progressive medicinal law; legalization for all adults will take sales to unprecedented levels.
In addition to just dollars and cents, California’s importance to our culture is also extremely significant. Major media markets covering all things cannabis, particularly the fact that legalization doesn’t cause the downfall of civilization, helps continue the momentum for sensible regulations and Hollywood influences societies around the world.
Reason TV recently traveled to California to discuss legalization with activists on the ground, including Oaksterdam University Chancellor Dale Sky Jones. Jones notes the importance of California, stating,”So goes California, so goes the rest of the nation, and likely the rest of the world.” We look forward to covering California’s march to legalization over the next year, particularly at the International Cannabis Business Conference, where activists and entrepreneurs from across the globe converge upon San Francisco as the state charts its own path on cannabis, a path that will have outsized repercussions well beyond state border lines.
The entire Reason TV video detailing California is worth viewing: