Proposition 64
Being a California-based company, Pyxis is continuing to focus this month on the legal status of marijuana. On November 8, California voters will be asked to consider Prop 64, which effectually legalizes the use of marijuana for adults:
https://ballotpedia.org/California_Proposition_64,_Marijuana_Legalization_(2016)
As of this August 19 Los Angeles Times article, the initiative is set to pass:
http://www.latimes.com/local/abcarian/la-me-abcarian-pot-initiative-20160819-snap-story.html
The implications, of course, are huge and multi-faceted. California is an economic behemoth with industries ranging from agriculture to entertainment to tech and biotech. As this CNBC story illustrates, the economic boom could be viewed as another Gold Rush:
http://www.cnbc.com/2016/07/12/californias-quest-to-legalize-marijuana-in-the-state.html
California would join Colorado, Washington, Alaska, and Oregon in legalization of recreational THC use. This article we posted in July from the Boston Globe does an excellent job at highlighting both the benefits and the challenges that Colorado has faced since legalization:
But California is unlike any of the previous states that have legalized marijuana, and if Prop 64 passes (as it looks set to do) the effects, both economical and social, will be as unique as our state.
