by Economic Benefits of Legal Marijuana
As more states vote to legalize recreational marijuana, many are looking at the potential tax revenue and job growth opportunities that come with a legal cannabis industry. In states that have already legalized, the economic impact has been significant.
Colorado became one of the first states to legalize recreational Legal Marijuana in 2014. Since then, tax revenue from legal cannabis sales has topped over $1 billion. A large portion of those tax dollars have gone towards funding public education across the state. Retail marijuana also supports over 18,000 full-time jobs in Colorado. As the industry continues to grow, even more jobs and tax revenue are expected.
Oregon and Washington were two other early adopting states of legal recreational marijuana. In Oregon, legal cannabis tax revenue reached over $90 million in 2019. This tax money goes towards programs like drug treatment, mental health services, and the state police. Legal marijuana has also created over 11,000 full-time jobs in Oregon’s growing cannabis industry. In Washington, legal cannabis sales topped $1.4 billion in 2019 and generated over $382 million in tax revenue, much of which goes towards public health and education programs.
As more states move towards legalization, the economic benefits are realized across the board. A recent report estimated that the U.S. legal cannabis market could generate over $26 billion in annual sales by 2025. And with sales comes substantial tax revenue and job growth as more states open their markets to the opportunities of a regulated cannabis industry.
Public Support and Attitudes Towards Cannabis
A key factor driving the increase in states Legal Marijuana is the shift in public opinion and attitudes towards cannabis over the past decade. According to recent polls, over two-thirds of Americans now support legalizing marijuana for either medical or recreational purposes. This shows a dramatic increase from past decades when support was around only 30%.
Younger generations have especially shown overwhelming support, with over 80% of millennials supporting some level of legalization. Even among older generations, a majority now believe it should be legal. The biggest opposition remains among those over 65 years old. But as attitudes evolve over time, majority support continues increasing, even among older age groups.
The shift in public perception is also evidenced by the growing number of celebrities and public figures openly discussing their support and use of marijuana. Once viewed as a taboo topic, cannabis is now much more mainstream and accepted in popular culture. This helps paint legalization in a more positive light and influence public opinion.
As the stigma around marijuana reduces, more voters see it as relatively harmless compared to legal substances like alcohol. Polls show most Americans think it should be treated similarly to alcohol or tobacco rather than lumped in with hard drugs. This public support is translating into real policy changes at the state level. With further education and normalization, legalization seems inevitable nationwide.
Impacts on Criminal Justice System
Another major factor driving legalization expansion is reducing the burden of marijuana possession arrests on the criminal justice system. In 2020, over 90% of all drug arrests in America were related to marijuana. However, possession of small amounts remains illegal in most states. This creates a significant gap between public opinion and existing laws.
Proponents argue that arresting and imprisoning people for minor cannabis crimes is a huge waste of public resources. It overcrowds jails and courts without providing meaningful benefits. Legalizing marijuana eliminates this issue and the associated enforcement costs.
A 2014 report from the ACLU estimated that enforcing marijuana possession laws costs states over $3.6 billion annually. All those taxpayer dollars could be redirected elsewhere if the substance was regulated like alcohol instead. Since states like Colorado legalized, marijuana possession arrests have predictably declined by over 90%. Police and court resources are freed up to focus on more serious crimes.
Additionally, Legal Marijuana helps address racial inequities in drug enforcement. Studies show black Americans are over three times more likely than white Americans to be arrested for marijuana possession despite similar usage rates across races. By taking cannabis out of the underground market, legalization eliminates opportunities for racial profiling during possession arrests.
As seen in early adopting states, legalization appears to be an effective solution to significant issues within the criminal justice system related to cannabis. This provides further rationale for more states following a regulated, legal framework for both medical and recreational marijuana programs.
Medical Marijuana Benefits more Patients than Ever Before
While recreational marijuana remains illegal in most states, medical cannabis programs have made great strides over the past decade. Currently, 36 states have legalized medical marijuana in some form. This rapid expansion is a testament to overwhelming public and physician support for cannabis as an alternative treatment option.
Research consistently finds the effectiveness of marijuana in treating conditions like chronic pain, epileptic seizures, multiple sclerosis symptoms, chemotherapy side effects, and more. Furthermore, cannabis provides relief for those who do not respond well or cannot tolerate traditional pharmaceutical options. With an aging population and increasing rates of chronic illnesses, the need for herbal remedies like marijuana is greater than ever.
Since legalization began in the 1990s, research into the medical uses of cannabis and its compounds like CBD has advanced greatly. More clinical trials are giving physicians reliable data to make recommendations. With marijuana now produced commercially in high quality and regulated dosing forms like oils and edibles, patients are gaining much safer and more consistent relief compared to illicit markets.
As legal medical programs expand, more patients are willing to try alternatives like cannabis with their doctor’s guidance and oversight. And with two-thirds of states now allowing access, availability is no longer the barrier it once was even in non-recreational states. Medical marijuana now provides an option for countless Americans suffering from debilitating conditions. This growth in therapeutic use will continue influencing legislative decisions about full legalization.
Federal Resistance and the Path Towards Nationwide Legalization
The biggest remaining hurdle to nationwide legalization is marijuana’s continued classification as a Schedule I controlled substance at the federal level. This designation alleges it has no accepted medical use and a high potential for abuse. However, this is contradicted by the rapidly growing acceptance of medical marijuana and the legal cannabis industry functioning well in compliant states.
There have been some hopeful signs of changes in federal policy. In early 2021, House Democrats passed legislation to decriminalize marijuana at the federal level. And under the Biden administration, White House Press Secretary Jen Psaki stated, “There are victims of the war on drugs who still deserve a second look at appropriate criminal justice reform.”
Still, full federal legalization will likely require Congressional action or a change in leadership. But as more states implement robust legal programs, legalization becomes harder for federal lawmakers to ignore. Public opinion remains over 70% in support of federal decriminalization. With so many states successfully regulating sales and taxing cannabis as a normal business, the federal ban is losing its justification.
As the nation continues evolving, legalization nationwide seems inevitable in the coming years. But first, legal marijuana policy changes will likely need to make headway within federal agencies like the FDA, DEA, and Congress. The momentum created by dozens of compliant state programs provides leverage to drive policy reforms at the national level as well. With its economic and social benefits now widespread, cannabis may soon lose its place among the
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
