January 05, 2024

In the past, marijuana carried a negative stigma, but the landscape has drastically evolved. Currently, an impressive two-thirds of the United States population supports the legalization of this once-controversial plant. Despite the federal law continuing to classify it as illegal, 33 states, along with the nation's capital, Washington DC, have embraced its use, allowing individuals over the age of 21 to access it for recreational purposes.

This shift in perspective has spurred government officials into action, as they recognize the immense potential that lies in the nationwide legalization of cannabis.

The following predictions shed light on the promising future that awaits, driven by the legalization movement:

1. Creating job opportunities

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

• Budtenders: These are professionals who work like sommeliers (wine waiters) at a marijuana dispensary who function to respond to queries raised by the customers and dispense the products. Related article: So You Want to Be a Budtender? 7 Things You Need to Consider

• 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

The transformation of cannabis from a misunderstood substance to a widely embraced resource marks a pivotal moment in history. Its journey, from being shunned to gaining global recognition for its multifaceted benefits, is a testament to changing perceptions and evolving societal norms. This green revolution transcends mere legalization; it signifies a profound shift in how we view and utilize natural resources for betterment across various sectors, especially in medicine and economy.

As nations around the world progressively recognize cannabis' potential, the ripple effects are substantial. From the streets of Seoul to the labs of London, the global acceptance of cannabis for medical purposes is not just a trend, but a movement towards embracing holistic, natural alternatives in healthcare. This shift is not just about legalizing a plant; it's about unlocking a treasure trove of possibilities that can revolutionize industries, create jobs, boost economies, and most importantly, enhance the quality of life.

The future of cannabis is not just promising; it's unfolding before our eyes. As we stand at this juncture, the canvas is broad, the potential immense, and the opportunities limitless. The narrative of cannabis is being rewritten, and it's poised to be a story of triumph, innovation, and global acceptance.

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