Colorado and Washington State are set to regulate their new recreational marijuana industries.
Colorado has already begun accepting seller licenses, there is no maximum on licenses allowed and stores could begin selling as soon as January. Marijuana cultivation for personal use will be allowed in Colorado.
Washington won’t accept seller licenses until Nov. 18 and regulations will be more restrictive than in Colorado. Limits will be set on the number of seller licenses available and advertising will be restricted to 1,600 square inches (about one square meter). Marijuana cultivation for personal use will be prohibited.
Washington has capped the number of stores allowed at 334 statewide, with county caps based on populations. King County’s cap is the largest, at 61. Official estimates put total revenue from marijuana near $300 million for fiscal 2014, and nearly $2 billion by the end of fiscal 2017.
Both states’ regulations are set, but the regulatory fights continue at the local level with many towns imposing temporary moratoriums. As well, taxation is still being determined. But it is expected that marijuana will be taxed nearly 25%
Seller licenses in Colorado could go into effect as soon as December 30, 2013.