It is highly likely the measure will pass Tuesday. On Oct, 16, a SurveyUSA poll showed 51% in favor and 40% against. More recently, a USC Dornsife/Los Angeles Times poll showed 58% for and 34% against the ballot measure.
Jessica Rabe, research associate Convergex, a global brokerage company based in New York, said that the great size of the California economy — sixth largest in the world if it were a standalone country, with GDP of $2.5 trillion in 2015 — will “put pressure on the government to reclassify or deschedule the drug to help ‘cannabusinesses’ better conduct their operations with more access to banking services.”
According to cannabis investment company MedMen, passage of Proposition 64 could add $8.38 billion in annual sales to an already robust medical market worth an estimated $2.83 billion. [Read more at Forbes]
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