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ProjectSAM Steps Up Campaign Against Cannabis Legalization

Ryan Allway

April 22nd, 2014

Policy, Top News

A national anti-marijuana group met with Obama Administration officials to encourage the federal government to reverse legalization in Colorado and Washington. ProjectSAM released a 4/20 Report Card last week showing “troubling developments” after Colorado’s legalization of recreational marijuana.

The 4/20 Report Card points out that THC-positive workplace drug test results in Colorado Springs rose by 30% since 2013; hospital discharges have consistently been on the rise, and youth usage has increased significantly. ProjectSAM argues that these trends demonstrate the dangers of legalized recreational marijuana.

At the same time, ProjectSAM argues that cannabis tax revenues have feel short of government estimates. Colorado projected about $11 million per month in tax revenues when actual revenues have been $2 million in January and $3 million in February, according to the 4/20 Report Card.

The report also points to the fact that Colorado’s drug dealers may be thriving on the legalization of marijuana. According to one drug dealer cited, legalization has helped his business because “it’s over priced, it’s being taxed way too high.” A police lieutenant also warned the same – that the black market is thriving.

Finally, the 4/20 Report Card warned of a number of 2014 developments, including a study from Northwestern University showing that casual marijuana use creates physical abnormalities in the brain; the suicide by an under-aged college student; and the fact the edible use has been on the rise among minors.

In a conference call with reporters last week, ProjectSAM indicated that they had met with representatives from the White House’s Office of National Drug Control Policy to push for the federal government to intervene in Colorado and Washington given that some conditions of the DOJ’s agreement had been breeched.

“The President and the Attorney General, now that we’re getting this new information, we have a better ground to say, ‘Well we give this a chance. Now we’re going to change our approach here.’,” said former U.S. Rep. Patrick Kennedy, the chairman of ProjectSAM in a recent interview with the Denver Post.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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