U.S.’ second legal recreational marijuana market all set to open in Washington

MerujuanaWashington's Liquor Control Board is all set to issue up to twenty marijuana retail licenses on Monday, and the retail pot stores will likely start selling the legal recreational drug from the next day.

The state's Seattle city will become the nation's second place, after Colorado, to sell marijuana to adults. The legal status to the recreational drug will come under a strongly regulated and taxed system.

Voters of the state approved the opening of legal recreational marijuana market nearly 20 months ago in November 2012. As there were no rules to regulate medical marijuana in the state at the time, authorities had to create a new regulatory system around it.

James Lathrop, who has plans to open a retail pot store this week, said his biggest concern was the possibility of running out of the drug stock in a matter of hours. In other words, he expects strong demand for the drug.

Speaking on the topic, Lathrop said, "What do you do when your shelves are empty? Do I just send everybody home? Do we try and stay open? I can't pay people if we aren't selling anything."

As per the state officials, eventually 334 licenses will be issued for marijuana stores across the state. However, no one has applied to sell the drug in 29 locations. Seattle has been allotted 21 pot stores.

The Seattle Center for the Study of Cannabis & Social Policy expects shoppers to get high as $15 to $30 for ever gram of marijuana, roughly twice the current price of the recreational drug at weakly regulated medical dispensaries.

Business: 
General: 
Region: