For the past couple of years, attitudes towards cannabis have been on the mend. Although the controversial plant is still considered illegal at the federal level, over 30 states have legalized it to varying degrees. Renowned for a long time due to its psychoactive abilities, cannabis is increasingly being considered medicinal, with plenty of people using it to help manage conditions like chronic pain in lieu of pharmaceuticals.
We are still a long way from federal decriminalization, though. Cannabis reform activists have been working hard to convince the masses of the benefits of legalizing cannabis. The following are some of the arguments activists have used in favor of cannabis legalization and regulation;
Cannabis is a medicine. Although the hype around cannabis’ medicinal properties has outpaced the science, the plant has still been proven to be an effective treatment in some cases. Research has found that cannabis can help reduce nausea and vomiting in cancer patients undergoing chemotherapy as well as intractable seizures caused by pediatric epilepsy. Additionally, cannabis is effective against chronic, pain, stress, anxiety, and a host of other medical conditions.
Cannabis arrests are a waste of resources. The police make more than 660,000 cannabis arrests each year, more than for any other drug. These arrests are mostly for possession, inflicting tens of billions of dollars in economic damage annually, with police dedicating $3.6bn annually to enforce possession laws. If you’re arrested for marijuana possession, it can cost you anywhere from $2,000 to $20,000 to defend yourself in court, not to mention the fines you may have to pay if you lose. All this resource hemorrhage is avoidable.
Most people arrested for cannabis possession are harmless. Most people who use cannabis recreationally and even medically don’t fit into the stereotypical ‘criminal’ role. At best, they just want to smoke (or eat) their marijuana, maybe watch a movie, relax, and go to sleep. However, 92% of marijuana arrests are for possession, branding decent, law-abiding citizens as criminals. And once a drug arrest or even incarceration is on your permanent record, you’ll have a lot of trouble finding adequate employment or even good housing in the future.
Legalization will boost the economy, especially in the coming years as the country struggles to recover from the economic crisis caused by the coronavirus pandemic. The state-legal cannabis industry is already worth $10.73 billion and has created over 200,000 jobs in the U.S. Additionally, states that have legalized cannabis have consistently brought in millions of dollars in cannabis tax. California, for instance, collected a whopping $305 million in cannabis excise tax revenue alone and $635 million total in state and local revenue in its second year of legal sales.
As we head into the next year, legalizing cannabis can help boost the economy by filling state coffers with cannabis tax and providing gainful employment to people who need it. Entities like Pac Roots Cannabis Corp. (CSE: PACR) know all too well the economic potential of marijuana, and that is probably why the industry is so vocal in urging the authorities to create regulated markets for these products.
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Do you have questions or are you interested in working with CNW420? Ask our Editor
CNW420 is part of the InvestorBrandNetwork.