Top 3 Benefits to Cannabis Legalization
Back in 2012, Cannabis legalization came to the USA when Colorado and Washington becoming the first states to make the cannabis legal. For years, cannabis had been decriminalized because law makers saw benefits to legal marijuana. But what are the top 3 benefits to cannabis legalization?
1. Cannabis Legalization Provides a Boost to the Economy
A 2018 report from the Federal Reserve Bank of Kansas City stated that Colorado brings in over three times the tax revenue from recreational cannabis as it does from alcohol, with over $78 million in the first financial year after starting retail sales, and over $129 million the second fiscal year. That number exceeded $396 million in 2021, and that’s just in Colorado. In California, 2021 marijuana tax revenue was almost $1.3 billion.
The states are able to use this huge surplus to invest in tourism, schooling, health care, and aged care, etc.
2. Cannabis Legalization Leads to a Drop in Crime and Consumption by Minors
With legalization comes education, regulation, and extra scrutiny. Even though recreationally legal areas have a rise in shops that provide cannabis to the general public, these vendors are highly regulated. In a study by Washington University, researchers found that rates of consumption by 14 to 15-year-olds dropped from 9.8% to 7.3% in 2014/2016.
Crime rates in areas where recreational dispensaries are present have also been proven to drop quite significantly. Studies point to the fact that the population tends to consume less alcohol when legal weed is available, which unsurprisingly seems to directly correlate with a sharp drop in crime.
3. Legal Cannabis Frees Up Police Resources for More Serious Crimes
Jeffrey Miron, a leading Harvard University economist, has been quoted as predicting that up to $13.7 billion annually could be saved just by the end of cannabis prohibition enforcement.
This also frees up police, allowing them to focus on more serious crimes.
Top 3 Benefits to Cannabis Legalization
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