In the past few years, legalized cannabis has seen a huge boom. The cannabis industry was one industrial sector that thrived even during the COVID-19 epidemic. The rise of legalized cannabis is not enough to counter the presence of criminal elements in it. We will be discussing how legalized cannabis sector is affected by the rise in illegal cannabis.
The Illegal Secret in the Legal Cannabis Sector
At the moment, recreational cannabis use is allowed in 18 states, two territory, and the District of Columbia. 36 states and four territories now allow medical cannabis. This has allowed the legalized cannabis market to reach a net worth $70.6 billion worldwide by 2028.
The federal government has yet to approve the legalized cannabis market. Even with support from the local government and high taxes, it is difficult to manage the increased competition from illegal, licensed cannabis businesses. Anne Van Leynseele is a well-known Cannabis Lawyer and shares her experience in her book. She shares her research on legalized cannabis dealers that were also illegally dealing. They use their licenses for money laundering through a partner outside of the market.
Stopping Illegal Cannabis Sector Growth
As we have already mentioned, the legal cannabis market is not nearly as big and lucrative as the illegalized. California took over 1.2 million illegal cannabis plants in 2016 and approximately 180,000lb illegal marijuana. It is alarming that entrepreneurs are not able to afford the taxes for legalized cannabis. This is not just California. Every state that has legalized cannabis must contend with illegal activities.
Numerous reports indicate that legalized cannabis is poised for a rapid growth rate, even without federal approval. The black market may also be a problem, which could slow down the growth. The first step is to eliminate the black market in cannabis.
Anne Van Leynseele’s book explains that illegal activity by licensed marijuana businesses is encouraged by the federal illegality of state regulators. This is because they lack enforcement from the licensing agency that permits them to operate. She believes federal enforcement is the best way to eliminate illicit cannabis supplies.
Conclusion
Prior governments, legalizing cannabis was a low priority issue. Although Biden was elected, federal legalization of marijuana remains a distant goal. Legalizing marijuana can be a good start, despite the rapid rise in inflation. A report shows that legalization in the USA has created more than 80,000 new jobs in 2020. Imagine what federal legalization could do.
Anne’s book contains more information about illegal cannabis and legal cannabis. Anne shares her 15-year legal career and hopes that her readers will share her experiences.
For more information, visit Anne’s website, call at (425) 314-6759 or email at [email protected]. Follow Anne’s journey via Facebook, Twitter and Instagram. You can also order Anne’s book through Amazon.
