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cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23593 posts

report: the illicit US cannabis market is 3x the legal market
LINK
i would love to have an adult conversation on this topic, especially with those who are opposed to nationwide legalization
quote:

A new report by the website GrowCola, using data from New Frontier Data’s U.S. Cannabis Report, notes that the American illicit market encompasses roughly $60 billion in annual sales. That compares to around $23 billion in legal medical and adult-use cannabis sales. (State-legal cannabis sales figures are often disputed, as there is no government tally of the federally-prohibited products. Leafly’s 2020 jobs report estimated the size of the legal American cannabis market at around $14 billion.)

quote:

Today’s $14 to $23 billion legal cannabis market supports 243,700 full-time American jobs. Doing the math, a fully captured illicit market would add more than 600,000 full-time jobs to the national economy. At a relatively conservative 10% tax rate, capturing $60 billion in sales would yield $6 billion in cannabis tax revenue every single year. That’s as much as New Hampshire’s entire annual state budget.

lets recall that canada has already legalized, mexico is about to, and 12 US states have already legalized with more coming

what are we doing here?


cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23593 posts

re: report: the illicit US cannabis market is 3x the legal market
another state doing the right thing
quote:

JUST NOW: The Vermont House of Representatives voted to approve a bill to legalize marijuana sales. After an expected Senate vote on the bicameral compromise next week, the legislation heads to the governor’s desk.


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60
Brettesaurus Rex
New Orleans Saints Fan
Baton Rouge
Member since Dec 2009
37030 posts

re: report: the illicit US cannabis market is 3x the legal market
It’s the old folks man. Literally no one my age gives two shits about MJ. No different than alcohol to me. Legalize and tax it. Shouldn’t be a given a second thought.


LSURN98
Jupiter
Member since Oct 2019
386 posts

re: report: the illicit US cannabis market is 3x the legal market
My parents are baby boomers. They smoked more weed than any other generation and then some. They could care less, absolutely support legalization. Both in their 60’s. I really don’t know anyone who is against it.

It’s powerful state police unions. That’s what’s keeping it illegal in Louisiana anyway. The idea that we throw people in jail for it is absolutely ridiculous.



cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23593 posts

re: report: the illicit US cannabis market is 3x the legal market
my daughter moved to boston this summer...she goes shopping for me at the dispensaries


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81
AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
351 posts

re: report: the illicit US cannabis market is 3x the legal market
"Fully capturing" the illicit market is a pipe dream.


BobMayonnaise
Mississippi St. Fan
Memphis
Member since Feb 2009
1069 posts

re: report: the illicit US cannabis market is 3x the legal market
The competing industries lobby hard against it.


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cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23593 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

"Fully capturing" the illicit market is a pipe dream.

is the alcoholic beverage market fully captured?
what about the opioid market?


LSURN98
Jupiter
Member since Oct 2019
386 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

"Fully capturing" the illicit market is a pipe dream.


Well and one of the problems is the states are taxing it so much that it is far cheaper to buy it illegally. Always in California, nobody buys flower from dispensaries here. They add like a 50% tax to it.


AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
351 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

Well and one of the problems is the states are taxing it so much that it is far cheaper to buy it illegally. Always in California, nobody buys flower from dispensaries here. They add like a 50% tax to it.


Exactamundo! Another problem is that the legal dispensaries have very high standards as far as what they will buy/resell. A lot of illicit growers don't meet those standards, but they still want to make money on their product.


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Ballstein32
Auburn Fan
Member since May 2020
82 posts

re: report: the illicit US cannabis market is 3x the legal market
For profit prisons and the pharmaceutical industry....

LINK /



AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
351 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

is the alcoholic beverage market fully captured?
what about the opioid market?


Not as long as I can buy a quart of 'shine from the old man down the street!

I don't go looking for heroin, but I doubt any dealers are paying taxes on their wares.


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Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
76855 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

i would love to have an adult conversation on this topic, especially with those who are opposed to nationwide legalization


Why aren't we leaving it up to the individual states?


8thyearsenior
Houston Astros Fan
Centennial, CO
Member since Mar 2006
4187 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

For profit prisons and the pharmaceutical industry...


All prisons and sheriffs hate to lose that money train. It is awful.

I grow it in my backyard every summer here just like tomatoes and there's no issue. If I lived 100 miles east they would confiscate everything I own, take my kids from me and throw me in prison.


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30
fallguy_1978
LSU Fan
Half mile from St George
Member since Feb 2018
29377 posts
 Online 

re: report: the illicit US cannabis market is 3x the legal market
quote:

Legalize and tax it

This thought process is the reason there will still be an illegal market.


hiltacular
Georgia Tech Fan
Philadelphia
Member since Jan 2011
16561 posts

re: report: the illicit US cannabis market is 3x the legal market
quote:

This thought process is the reason there will still be an illegal market.


Yep. Illinois is a great example. It's fully legal there but the taxes in some cases are as high as 40%.

All of my friends are still buying weed the old fashioned way.

NJ is voting to legalize it in NOV. I expect all of the surrounding states to follow suit shortly thereafter. States like PA can't afford to be sitting across the river from a state that has legalized it.


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DownshiftAndFloorIt
LSU Fan
Here
Member since Jan 2011
55391 posts

re: report: the illicit US cannabis market is 3x the legal market
Been saying forever that the way you win the war on drugs is make the street pharmacists compete with Walmart and the American industrial farmer.


AA7
Auburn Fan
Birmingham, AL
Member since Nov 2009
17775 posts

re: report: the illicit US cannabis market is 3x the legal market
You’ll never fully capture the market in this instance because it’s too easy to grow on your own, but there is a ton of money that could still be made


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cuyahoga tiger
LSU Fan
NE Ohio via Tangipahoa
Member since Nov 2011
4858 posts
 Online 

re: report: the illicit US cannabis market is 3x the legal market
Massachusetts dispensary.. $16 gram including tax..
NE Ohio black market $8 gram... high quality from both


Epic Cajun
New Orleans Pelicans Fan
Lafayette, LA
Member since Feb 2013
21856 posts
 Online 

re: report: the illicit US cannabis market is 3x the legal market
quote:

Why aren't we leaving it up to the individual states?


Make it legal federally, if a state wants to pass a law to make it illegal, then have a vote on it.


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