Americans Seem to be More in Favor of Cannabis Legalization – PR Newswire (press release)
NEW YORK, November 14, 2016 /PRNewswire/ —
http://www.Financialbuzz.com – The election on Tuesday was a major victory for the legal cannabis industry. Using Recreational cannabis is now legal in California, by far the largest market in the sector. In addition, three other states decided on the measures – Maine, Nevada, and Massachusetts. After Tuesday, 20 percent of Americans can legally use Cannabis and according to polls, 60 percent of Americans support legalizing cannabis, up from 31 percent in 2000. The market for both recreational and medicinal cannabis is projected to grow to $22 billion by 2020 according to Arcview Group. Cannabix Technologies Inc. (OTC: BLOZF), United Cannabis Corp (OTC: CNAB), Insys Therapeutics Inc. (NASDAQ: INSY), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), GW Pharmaceuticals (NASDAQ: GWPH).
The results this Tuesday may impact other states to seriously consider Cannabis reform. The recent victories last week has renewed debate within the states, and may even help lift the federal ban. The gap between states regarding cannabis legalization creates complications, both for the governments and the businesses involved. An example, considering this, the government is collecting new tax dollars from cannabis companies. However, because of the federal ban, these same companies often can’t open bank accounts, thus complicating their operations.
The cannabis market is becoming diverse. Cannabix Technologies Inc. (OTC: BLOZF) for example is a developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace. After the market close Friday, the company announced it, “is pleased to release images of its Beta 2.0 Cannabix Marijuana Breathalyzer. New images of the device can be viewed at http://www.cannabixtechnologies.com.
Cannabix has been using a methodical iterative product development process to develop its marijuana breathalyzer. Using this method, the product is developed in several prototype stages with each stage used to advance the product to subsequent stages. Cannabix has systematically moved the development of the Cannabix Marijuana Breathalyzer