Many changes are occurring daily in the medical cannabis world. Even more so, the realm of recreation or legal cannabis is expecting to see a lot of twist and turns, especially with this upcoming election. What can we expect as a result of this reefer boom that seems to be sweeping the nation?
US States With a Likelihood of Legalization in 2017:
It’s well known information that some American states stand closer to recreational cannabis legalization than others. The states that hold prominence with the upcoming election include, California, Nevada and Michigan. These three states have a high likelihood of achieving reefer legal status by 2017, and this could greatly impact their economies for future years to come.
What Does Legalized Marijuana Signify For Local and State Economies?:
Legalizing marijuana can actually do A LOT for local and state economies. Just think, each amount of weed legally sold to customers is taxed by the state in which it’s sold. When Colorado legalized ganja, their first year of profit added up to $573 Million dollars in sales. That is an absurdly high number, showing that the demand for reefer was certainly prevalent. If California became recreational, it is estimated to have an even better first year profit, due to a greater population that is highly centered around pot and herb culture.
Cannabis legalization also tends to attract tourism from other states within a certain proximity. For example, when Oregon became reefer recreational, lines began forming all the way down the block just to purchase some legal weed. Not everyone in the line was from Oregon either. In fact, the majority of individuals waiting for ganja were from other states where marijuana use has high consequences or isn’t readily accessible. Furthermore, pot is making a global difference. Not only can stoners from other states enjoy some recreation marijuana from a shop with no sketchy repercussions, citizens from other countries around the world, where herb is considered highly illegal, can come to America and try our guilt-free bud.
What does this speak to local economies? More hotel rooms booked. Busier restaurants. More goods bought from local Ma and Pa stores, and an all around boom in tourism and visitor traffic.
What Does the Future of Recreational Reefer Mean For the Rest of the World?:
Sure, local and state economies will certainly be heavily influenced by a legal boom in marijuana, but even more so the global impact that cannabis can have is phenomenal. With the greater acceptance of ganja comes more companies opening up marijuana production and manufacturing facilities, specifically for medicinal CBD based drugs, that have been shown to help treat symptoms from a number of conditions, including some forms of cancer, seizures and many others. These companies are already growing, releasing CBD based drugs for consumption and treatment primarily to countries in Europe where they are accepted as a substantial form of treatment.
However, many of these drugs are not yet approved by the FDA in America, partially due to the controversy that cannabis can often times cause in the states. A wide span of legalization can result in more stocks of CBD and cannabis prominent companies, meaning a greater range of investment availabilities for businessmen and stock traders in foreign countries and around the world.
Just visualize it… a world that treats marijuana as medicine and not a hard drug. As states begin embracing these new laws of herb acceptance, American and global perspectives begin to shift. All of these aspects will definitely have an impact on business owners as the results of Legalization could have a profound effect on company’s profitability and future revenue. Irrespective if you are a small or enterprise business owner.