Colorado 's Legal Weed Market

A controversial topic often being advocated for by sitting governors is whether the legalization of marijuana is more beneficial or harmful to the economy. Marijuana, also known as weed, is a mixture of the dried and shredded leaves, stems, seeds, and flowers of the cannabis sativa plant. It’s the most widely used illegal drug in the United States, even though studies have shown results that the benefits of using marijuana for medicinal or recreational reasons far outweigh the negative matters that may be associated with its use. While marijuana is still a controlled substance under federal law, thirteen U.S. states currently have compassionate use laws in place, which allow for regulated medical marijuana use. By legalizing marijuana, the government is helping the economy by reaping medical and financial benefits, not only at the state level, but also at the federal level. Taking into account the numerous studies done with marijuana on whether it is for recreational use or medical purposes, the government cannot go wrong in legalizing marijuana because of such an impact it will have. Marijuana should be legalized for recreational purposes because it will help society economically and socially.

While currently, the state of Georgia is sitting at a rate of 5.1 percent of unemployment within the past thirteen months according to the Georgia Department of Labor. In the state of Colorado where marijuana is legal throughout the state, their unemployment rate is resting at one of the all-time lowest of 2.6 percent since March 2017 (Bureau of Labor). There is an expansive amount of opportunity for the legalization of marijuana, not only for the beneficial use of the so-called drug but for the job opportunities that it can open to the people. Dispensaries can open all through Georgia creating new jobs to run and work at each shop. Not only does each store have to grow their own product, but also maintain and nurture it. This alone will drop the unemployment rate to its lowest ever in the state of Georgia. This is an opportunity that cannot be dismissed because there is a golden hidden potential inside the marijuana industry that Georgia is missing out on, and to also drive the economy to its

This paper will look at the benefits and drawbacks to legalizing marijuana by looking in at Colorado.The state made forty million dollars by taxed marijuana in 2014 alone, also Colorado saved countless millions because of the extremely lower amounts of marijuana arrest and court cases. It is not clear how having new recreational marijuana stores opening will affect the cannabis market, or businesses expanding around them. Gov. John Hickenlooper says that the economy is thriving with record setting numbers of tourists (73.1 million). 49 percent of those tourist said that legal marijuana influenced their decisions to vacation in Colorado. The ER’s in Colorado have also seen a rise in numbers of marijuana related cases and those cases in non-residents have almost doubled. An unexpected situation that arose from legal cannabis was the amount of electricity that is being use to grow the drug. Some cannabusinesses have to go green with solar or wind power. There are many varying views on the effects of legal marijuana have developed in Colorado since marijuana became legal in 2014.

Colorado’s legalization of marijuana began in 2000 with the Colorado Amendment 20. According to Davis, Mendelson, berkes, Suleta, Corsi & Booth (2015) the Colorado Amendment 20 legalized cannabis for medical use only. Even though this was true however, not just anybody was allowed to obtain marijuana. Any person wishing to obtain cannabis had to have a condition that was debilitating. “Debilitating conditions approved by the Colorado Department of Public Health and Environment (CDPHE) and included in Amendment 20 are cancer, glaucoma, HIV or AIDS, cachexia, severe pain, severe nausea, seizures, muscle spasms, and any other condition approved by CDPHE” (Davis et.al, 2015, p.1). This Amendment lasted for nine years and in 2009, anyone was allowed to obtain medical cannabis. There was no

The topic of legalizing recreational marijuana in the United States has been a very controversial one. States such as Colorado and Washington have gone on the offensive and have legalized recreational marijuana and have enjoyed the high revenues brought in from cannabis sale. On the other hand other states have kept low profiles because they are wary of the possible negative outcomes of legalizing recreational marijuana and are using the states of Colorado and Washington as guinea pigs to see what their next course of action on this controversial topic should be. This is not only a highly debated topic among politicians, but also by the people. According to a poll conducted by the Pew Research Center 52% of Americans

Marijuana in the United States has been a big issue for decades dating back to when it was first made illegal in 1937. Using scare tactics, propaganda, and false facts, the government decided to classify the plant as a schedule one drug along with substances such as ecstasy, LSD, and heroin. Marijuana has since become a more common and socially acceptable (Not by the government) drug in recent years. This past year Colorado, Washington, and Oregon had decided to vote on the issue of legalizing marijuana for recreational use. Focusing on Colorado, Amendment 64 passed on November 6th, 2012 which would legalize the possession of up to an ounce of the plant.

Right after the U.S. Department of Justice announced in March 2009 that it would no longer prosecute marijuana patients and providers whose actions are consistent with state medical marijuana laws (Meyer & Glover, 2009, para. 1), political windows suddenly opened for California marijuana reform advocates to push for legalizing the recreational use of marijuana. As a result, California Proposition 19, the Regulate, Control & Tax Cannabis Act, became a ballot initiative on November 2, 2010 statewide ballot. Supporters argued that legalizing creational use of marijuana would help California to regulate the use and sale of marijuana, reduce correctional costs, redirect its court and law enforcement resources to other more serious crimes, and collect additional exercise taxes and sales taxes that would help with California’s budget shortfall. In spite of being a

Colorado's pot paradox: Recreational marijuana is legal, but it's tough to find a place to consume it

The MMJ revolution is slowly spreading across the US. Twenty-five states have now voted to follow Colorado. When MMJ (Medical Marijuana) approval occurred in Colorado, it was a shock to the state government. The MMJ initiative labeled as Amendment 20, and approved in November of 2000. This coined the name 420, and Colorado celebrates this in April of every year. This law successfully legalized illness specific quantities of medical marijuana for patients and their primary caregivers. In 2012, the voters successfully voted on Amendment 64 to allow retail shops. The retail shops are rare in Southern Colorado, with only one in Manitou Springs, a few in Pueblo, and many more stores in Denver. Seventeen years later, it is a thriving business, despite

Another man, a resident from Georgia, who suffers from anxiety and alcoholism decided to make his stay permanent after realizing the constant marijuana use was able to help him stop his bad drinking habit. Accompanied by his son from North Carolina, who has previously been an illegal recreational user, is happy that his habits can now continue guilt free. Another source reported that Colorado has welcomed 36,284 people who have migrated from within the US in 2013 (source). That is 8,000 more people than 2012 due to the “go West” mentality of marijuana enthusiasts (source). If Colorado’s predictions are correct, they will receive an extra $100 million in revenue due to marijuana sales (Dickinson & Haglage). This money can be used for beautification, safety improvements, schooling resources and many other positive things that will make living in Colorado even more appealing.

There has been major news forming around the legalization of marijuana in Colorado. Medical marijuana has been effective in Colorado since 2000. Now marijuana is legal for recreational use for people 21 and up. Many rules and regulations follow the legalization of marijuana. Many people of Colorado fear this legalization, where others are totally for it and think it will help boost Colorado’s economy. I have found many

Since 1996, the state of California, and by default, the city of Desert Hot Springs, have allowed the use of medical marijuana. Under proposition 215, any individual with a prescription could legally possess and use cannabis. And this was the case until recently, when a chain of events led to the legalization of consumption for non-medical reasons in California. Proposition 64 legalizes the private use of marijuana as of January 1st, 2018. However, this decision appears to have been made prematurely as the effects of such an abrupt decision are beginning to manifest themselves. Aside from the palpable consequences of marijuana consumption, including sluggishness and impaired judgement, there are far more serious unintended consequences impacting

November,8, 2016 the ballots were dispersed and votes were submitted. Question four on the ballot was known as the “The Regulation and Taxation of Marijuana Act.” The numbers came in and beginning December 15, 2016 in Massachusetts, individuals above the age of twenty-one will now be able to legally purchase, possess, cultivate, and use marijuana, with limitations on quantity, for recreational and medicinal use under the statutes of the state laws. While the prohibition of marijuana in Massachusetts has ended, many new movements must now begin to maintain, regulate, and pursue a positive outcome. With other states that have already passed such laws, such as Colorado, Massachusetts will begin to piggyback off their models. Developing a system that will hopefully come to fruition of all the possibilities and benefits this new law has promised.

Table 1, shown above, displays excise and sales tax revenues in Colorado during 2014, 2015 and estimated values for 2020, with regards to the different sources of taxation. The projected values for 2020 where estimated by the Marijuana Policy Group, the policy and economic consulting firm responsible for key roles in many Marijuana related national policies across the United States. As can be seen, excise and sales tax revenues for Marijuana exceeded those of Alcohol in Colorado during 2015 by almost 3 fold. They have surpassed the gaming and casino industry and only fall second to the tobacco tax revenues. This is the results of two components simultaneously at play, the first being an increase in demand and the second being a shift in sales and demand from the untaxed black market towards the regulated and taxed official retail market (Light, Orens, Rowberry and Saloga 11). The projections from table 1 show that by 2020 Marijuana could even potentially dethrone Cigarettes as the most lucrative source of excise and sales tax revenue in Colorado, due to the

Legalize, control, and discourage is a way to fix the problem. Evident by Colorado and Washington, “the legalization of marijuana can stop most of these possession arrests” (Levine). After the first opening of the first retail marijuana stores on January 1, 2014, Colorado had decreased crime rates, decreased traffic fatalities and increase in economic output (DPA). Since 2010, the marijuana possession arrest have went down 84% since its legalization. The tactic of legalizing, controlling, and discouraging has been proposed by the Economist, a weekly news magazine, in the late 80’s.