Despite the controversies that surround it, many countries are revisiting their cannabis laws. Uruguay, Israel, and Canada have all legalized the growing of the best weed seeds in the world and use of cannabis, and the United States is now considering a similar move. The cannabis industry is predicted to be worth a multi-billion dollar industry. However, cannabis remains a Schedule 1 controlled substance, which means that selling or possessing it is a federal crime. The use and growing of regular seeds of cannabis must still be legal and abide by federal laws.
Legalization Of Cannabis In The United States
The rising popularity of cannabis among the public in the late 1960s and early 1970s reflected a wide variety of factors, from anti-Vietnam War fervor to the return of troubled soldiers. As the debate over cannabis policy heated up, some states began decriminalizing small amounts of marijuana. A growing body of evidence indicates that cannabis may have a positive effect on reducing the use of opioids, especially for treating pain. However, in the late 1970s and early 1980s, cannabis faced a sharp pushback as the anti-drug sentiment became more widespread.
The current state of cannabis regulation is conducive to a large-scale industry explosion. Yet, experts worry that large corporations could flood the market with cheap generic products. However, the industry is growing so fast, experts are worried that the competition will create a monopolistic situation. To avoid this scenario, they recommend that marijuana growers be allowed to market their wares directly to consumer. If this happens, consumers will no longer need to worry about high prices and lack of variety.
Challenges To Legalization
Some challenges to cannabis legalization may be more obvious than others. Local law enforcement agencies are concerned about the effects of legal cannabis on roadways and public safety.
The cannabis industry must also contend with a complicated legal landscape. States and countries have different laws regarding cannabis. Meanwhile, established companies outside of the industry are expanding their foothold in the cannabis market. For example, “addiction” industries have been aggressively investing in the cannabis industry, acquiring companies and selling it en masse as their own products. This is a significant risk for legalization of marijuana. Nonetheless, it must be kept in mind that the industry’s future depends on identifying and addressing these challenges.
Tax revenue. Legal marijuana production requires tax revenue. In addition to collecting taxes, marijuana producers must also abide by tax laws. Compliance with these laws is key to the success of the legal marijuana industry. In addition to tax revenues, the industry will need to be regulated to protect consumers and capture tax benefits. The challenges to cannabis legalization will depend on how the community reacts to these laws. Just like any other new industry, legalizing marijuana will not happen overnight.
Alternatives To Legalization
There are several alternative models for federal legalization of cannabis, but they all share a common goal: to protect public health. This plan would make cannabis legal, but only under limited government regulation. The government would regulate the supply chain. As the primary retailer, it would be less likely to have any motivation to sell marijuana and more likely to weigh public health and safety over profit. The industry would be regulated by nonprofit organizations, and the profits of the industry would be strictly limited.
While competing marijuana bills are currently in draft form, some are likely to gain more support as they are introduced and debated. It would also protect veterans and cannabis business owners, while enabling valuable medical research to be conducted in states that have legalized marijuana.
States are proving their worth on issues of social equity. By legalizing cannabis, states would also be able to conduct enhanced product safety research and create legitimate financial transactions for marijuana companies. Additionally, they could offer premarketing approval to companies that produce and sell cannabis. As a result, fewer marijuana-related arrests would occur and state governments would have more freedom to regulate its sales. While there are many benefits of this approach, it is not without potential drawbacks.
