The promising way forward for hashish legalization
With the spread of the pandemic, the economy has reached a new low. This and the widespread atmosphere of social turbulence have once again brought the legalization of cannabis to the fore.
Industry experts and political members say the marijuana industry can serve as an "economic engine" to deal with the economic crisis.
States are trying to reduce penalties for owning and using marijuana. This could prove to be the beginning of further measures to more fully legalize cannabis.
The existence of centuries-old laws that criminalized possession and use of cannabis and inappropriately detained black people for non-violent offenses is now considered contemporary. The prevailing social unrest has led several US states to moderate these old laws.
Karen O & # 39; Keefe, head of government policy for the Marijuana Policy Project, said: "I expect a record number of states to legalize marijuana in 2021, due in part to the financial pressures and racial injustice that is needed to reduce unnecessary police -civilistic interactions. "
An amendment to a Colorado law has been amended to expand the state's legal marijuana industry with a provision that would allow Democratic Governor Jared Polis to exterminate residents with minor convictions for cannabis.
Nevada has also acquitted over 15,500 people who were found guilty of carrying less than an ounce of weeds.
Even New Jersey is taking steps to decriminalize it. Virginia's recent decriminalization law includes a provision to create a group that will assess the impact of cannabis legalization.
The Georgian legislature has added decriminalization to a law on police reform. However, according to Savannah Morning News reports, approval appears to be difficult due to the Republican-controlled General Assembly of the state and the June 30 legislature.
Kevin Sabet, co-founder of Smart Approaches to Marijuana, told CNN Business that while the organization is against full legalization of marijuana, it helps decriminalize the flower's minor ownership.
He said in an email: "Decriminalization begins the process of healing past damage, while at the same time foregoing the creation of a new, predatory industry that is interested in marketing extremely effective marijuana products."
People who have advocated the legalization of cannabis have advocated eliminating illegal market activity, generating additional tax revenue, and eliminating past injustice.
Jessica Billingsley, managing director of Akerna, which produces regulatory software that tracks cannabis sales from seed to sale, said: “Ultimately, business talks and jobs speak. I firmly believe that if states and governors look for a way to strengthen their economies, there will be a very significant and important movement. "
According to BDS Analytics, cannabis sales in 2019 were around $ 15 billion in states that legalized it for both medical and recreational use. They are expected to hit a whopping $ 30 billion by 2024.
At the beginning of 2020, the U.S. cannabis industry had around 243,700 full-time employees, according to the cannabis website Leafly.
During the pandemic, states where cannabis is legal considered the drug to be an essential asset. Sales remained stable during the pandemic, and states such as Washington and California also rose.
It has led to a growing perception in the industry that cannabis can be a recession-proof asset and a cure for the moving economy.
Political experts and economists, however, advise against legalizing marijuana as a panacea for government tax problems.
Ulrik Boesen, Senior Policy Analyst at the Tax Foundation, told CNN Business: “This is not a short-term solution because it takes time. If you're looking at the 2021 financial year you're worried about, legalizing marijuana isn't a solution. "