With the decriminalization of cannabis in Canda, as well as the United States of America, the world is about to witness a new world order. The decades-long war against drug cartels and illegal traders of cannabis is coming to an end.
It is not just the fight against illegal trade of drugs, but also the commercial benefits of marijuana which have led to its legalization. Weed lovers and hustlers are further supporting the use of marijuana on a global scale.
In fact, more than anything else, the legalization of cannabis has led to a boom in financial reserves for the countries and states that have decriminalized its use.
Let us dive right in, how the world order is being affected by canna-business:
The Change In Tax Generation
If leading journals are to be believed, the cannabis trade is expected to grow up to $21 billion by the year 2021. This is not merely an estimation, but a firm expected value based upon past trends.
In the year 2015, the state of Colorado collected over $135 million worth of taxes from the cannabis trade. This tax was levied on the total revenue generated by the state government including recreational and medical cannabis. If the sale of marijuana is to be considered in the state, it totaled up to $996 million. This breathtaking value was the overall trade value for marijuana in the states. It was later established that this value hiked 30% within a year, in 2016, which makes market analysts predict the future valuation of the industry.
In Canada also, the legalization of recreational marijuana depicted a tremendous growth in tax generation for the government reserves. According to a sourced report, over $5.7 billion were spent in Canada, in the year 2017. And this amount concerns marijuana only. There is no surprise to it that the population is accepting these reforms with open arms.
The Change In Employment
There is no doubt that people are happy with the legal reforms surrounding cannabis. Another possible explanation could be the new employment opportunities that have come up.
Of course, whenever a new industry kindles, there are openings for new positions. Whether it is a dispensary that sells medical-grade cannabis and its products or a cultivator that grows the same, opportunities are immense. In fact, young entrepreneurs and innovators are creating innovative ways to commercialize and benefit from the cannabis trade. For example, there are platforms such as Weed Menu that enable customers and sellers to connect and conduct their business; there are seed banks that sell seeds to cultivators; there are laboratories that conduct and approve the quality of any particular product. There are also, specialized eCommerce platforms and delivery systems dedicated to weed.
Whether you believe it or not, the employment scenario is changing for the good with the decriminalization of cannabis.
The Change In Investment
As already mentioned, young entrepreneurs and businessmen are making headway to canna-business. This has drastically changed the capital investment in the industry. In fact, with more and keener eyes prying to invest in the business, the total global evaluation for cannabis trade has quadrupled over the past decade.
Of course, with the government agencies playing their roles in the regulation of the trade the investments are made secure. In fact, the investments used to fuel the black markets in the past are now directly accounted for in the national treasures.
Moving towards the decriminalization of cannabis, the banks, and financial institutes are also benefiting. There is no segment in the trade, from weed smokers to cultivators and to the top of the pyramid, the government, all are enjoying there share of luxuries.
The Change In Anti-Drug Motions
There is yet another segment that has witnessed tremendous improvement due to the legalization of marijuana. As already mentioned, weed trade used to be carried out in black markets before the government agencies interveined. In fact, cannabis is still the largest fund-traded commodity in the black market.
Due to its huge demand and legal complications surrounding its trade and use, a huge chunk of national treasures is spent on controlling illegal trade. Billions of dollars are spent controlling and limiting the smuggling of marijuana across borders every year.
But all of this is changing due to decriminalization of the cannabis. In other words, when all of the trade is being carried out legally, there is no scope for the cartels and illegal traders to seep in. Moreover, the billions of dollars that were earlier being spent on controlling and checking on the smuggling of marijuana, is now being recovered in the form of taxes.
With the wheels of change set in motion, the commercialization of cannabis would allow changing the status quo for the righteous government agencies over the illegal drug mafias and cartels.