promising-future-of-cannabis-legalization

The Promising Future of Cannabis Legalization

April 05, 2021

Previously, marijuana used to have a bad reputation but at the moment about 2 out of every 3 people in the United States support its legalization. Despite being illegal under the federal law, 33 states have legalized its use including the country’s capital Washington DC such that persons over the age of 21 can procure it for recreational purposes. As it stands, government officials have begun to push for cannabis nationwide legalization because it shows promise for the future. Here are predictions that show that legalization will lead to a better future:

1. Creating job opportunities

There are a variety of job opportunities that have been created as a result of cannabis legalization which include:

  • Edible makers: This includes people who make different kinds of foods infused with cannabis such as baked goods, tea, or candy. Check out our 1 Gram Cannabutter Recipe.

  • Harvesters: People who perform the labor-intensive of growing, trimming, and packaging marijuana fall in this category. Check out this amazing resource about How to Become a Grower in the Legal Cannabis Industry.

  • Vaporizer retailers: These are entrepreneurs who pioneer in the selling of smokeless devices such as dry herb vaporizers. Check out our Dry Herb Vaporizer Buying Guide

    The jobs that this industry has created are just the tip of the iceberg because once cannabis is fully legalized, more entrepreneurs will venture into this business creating more jobs in other cadres.

    2. Increased development of cannabis-based medicines

    Cannabis has proven to be useful in the management of a wide range of ailments such as mental disorders, alleviating the symptoms of chemotherapy in cancer patients, enhancing lung capacity, regulating diabetes among other conditions. The already proven benefits of cannabis are also going to drive the legalization of marijuana in the coming years. The legalization of marijuana will make it easier for scientists to develop more cannabis-based medical treatments to help patients cope with diseases.

    Related article: Is Big Pharma Taking Over the Cannabis Industry?

    But researchers will have to team up with pharmaceutical companies and with traditional Western medicine practitioners to come up with useful products. Therefore, if you are looking to venture into cannabis research, you are better off working with a consulting firm such as Argonaut Advisors. Consultants will help you navigate cannabis financing complexities so that you achieve your objective.

    3. End crime and violent activity

    It takes $75 to grow one pound of marijuana which when harvested and sold, the same quantity goes for $6,000. These crazy profit margins have made the cannabis business very lucrative which in turn has attracted cartels over the years. The existence of such syndicates in society has increased violent crimes and murders. This is because these groups steal from one another to sell other products, fight over territory, and continue to smuggle cannabis in areas where it is still illegal.

    There is evidence that shows a decrease in the crime rate in regions (neighboring Mexico) where cannabis has been legalized because cartels have lost their grip and businesses. Therefore, future worldwide legalization of cannabis is likely to bring down the price of cannabis thereby driving unscrupulous dealers out of the market. This will create a healthy place for every aspiring business person to trade without fear of victimization. Additionally, this will save the justice system billions of dollars spent annually to fight cannabis-related criminal activity

    4. Increase government revenue

    It is estimated that legal marijuana can generate revenue of up to $132 billion.  When legalized at the federal level, the cannabis industry will create a whole new arm of additional revenue for the governments which will help the governments hire more people and develop better infrastructure for its people. In areas where it is legalized, cannabis taxes are being put into use to develop institutions.

    For example, in Oregon, cannabis taxes have been used to build more schools and improve public health services. The legalization of cannabis will solve the problems of budget deficits in governments and the long-run reduce over-taxation of citizens.

    Related article: Marijuana Tax Revenue: A State-by-State Breakdown

    Conclusion

    Cannabis has been in use for most of human history and when you think about it objectively, this industry offers more pros than cons.  People all over the world are beginning to acknowledge its benefits in various sectors such as medicine. As more countries continue to push for its legalization, others like South Korea, Poland, the United Kingdom among others have already approved it for medical use. Despite the opposition from a few people, this industry will globally thrive in the next couple of years.