What’s next for U.S. marijuana industry under President Trump?

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Nov 13, 2016 09:56 PM EST

Republican president-elect Donald Trump gives a thumbs up to the crowd during his acceptance speech at his election night event at the New York Hilton Midtown in the early morning hours of November 9, 2016 in New York City. Donald Trump defeated Democratic presidential nominee Hillary Clinton to become the 45th president of the United States. (Photo by Mark Wilson/Getty Images)

Presidential election 2016 was dominated by the Republican contender. The anti-marijuana groups are distressed on the marijuana-legalization verdict of their recently elected President, Trump.

Nine states pronounced if they lawfully validate therapeutic utilization of marijuana. Maybe it will also permit its recreational use for grown-ups, and voters from about seven of them.

Remarkably, California approved those steps. Accomplishments of the ballot measures were anticipated to vault cannabis to a $21 billion industry by 2020. This was as indicated by a market research firm called New Frontier Data and Arcview Market Research.

Considering that there is a minor increment from its pre-election evaluates. "This is the most momentous Election Day in history for the movement to end marijuana prohibition," Rob Kampia of the Marijuana Policy Project, a group that supported a number of the legalization initiatives, stated in Washington Post.

However, the advocates for marijuana legalization were imbued with incertitude after the group's triumph in the election. The 29 states that are pro-marijuana will cultivate their trades under Republican President-Elect Donald J. Trump.

Trump and Democratic nominee Hillary R. Clinton had said they approved states' rights. They also pronounced not to demolish existing marijuana ordinances, as stated in the The Cannabist three months ago.

Previously, some of Trump's past testimony and his Republican allies were not as 100% sure to approve the issue, policy specialists have noted.

Pueblo Country Commissioner Sal Pace, commended Pueblo's vote to hold its current recreational cannabis market. This include the probable economic benefit that may originate from sector like wholesale cultivation and research.

Commissioner Pace was a benefactor of his southern Colorado people group's recreational marijuana industry and blasting cannabis farming manipulations. His confidence was somewhat toughened by anonymous individuals at the federal level.

"(Trump has said) he's not changing any laws ... I trust that is the main crusade guarantee he keeps," Pace said. "He is encompassed by a cluster of the individuals who are frightful on the issue."

A day after the election, cannabis authorization advocates kept a confident assurance that their business would stay in place.

 

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