LA Marijuana Dispensaries on Edge, Voters Set to Reshape Nation’s Largest MMJ Market

http://mmjbusinessdaily.com/2013/05/21/los-angeles-dispensaries-brace-for-election-with-voters-set-to-determine-future-of-largest-mmj-market/

It’s D-Day in LA.

The estimated 700-plus dispensaries in Los Angeles will likely learn their fate sometime tonight after voters weigh in on several MMJ proposals during citywide elections.

Make no mistake: This is a crucial election not only for the LA cannabis community, but also for the medical marijuana industry as a whole. Los Angeles ranks as the largest single market for MMJ in the country, boasting more dispensaries and related medical cannabis businesses than the rest of California combined – and any other state for that matter. At stake are thousands of jobs and millions of dollars in revenues.

The ballot measures aim to create a viable, stable and regulated business climate in LA, which would be an important development for a turbulent market and could help offset some of the negative stereotypes about the industry (many of which are tied to shady dispensary operations in Los Angeles).

But the proposals have a different method of going about it, and each would have a very different impact on dispensaries and related businesses. Although there are three proposals on the ballot, voters will basically decide between just two.