WeedMaps to fund $2 Million for Cali Cannabis legalization
My pals over at Weedmaps are getting into the politics game.
Okay techinically they aren’t my “pals”, as “they” are not a person and “they” have never heard of me nor do they know I exist.I like to form these non-existent relationships in my head to keep me from feeling alone at night.
But I digress.
The popular dispensary listing site with it’s own Internet TV show, has pledged $1 Million to a newly-formed campaign committee dubbed Californians for Sensible Reform, and another $1 million into a political action committee by the same name, according to the San Francisco Chronicle.
In 2016 the first committee will throw it’s weight behind whatever legalization ballot it deems worthy of success and the second committee will support cannabis-friendly candidates, the Chronicle reported.
What makes this type of move on Weedmaps part so unique is the considerable amount of monies being invested into each committee.
Troy Dayton, CEO of the ArcView Group, told the Chronicle that such a hefty political donation is the largest he’s ever heard of from a single company.
“It is yet another sign that the industry is maturing,” Dayton said.
The marijuana market has exploded 74 percent over the past year to $2.7 billion, with California — where only medicinal pot is legal — accounting for nearly half that. according to a report this week by ArcView. If pot were to be legalized in California next year, ArcView projects that “the entire industry could rapidly double in size.”