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report: the illicit US cannabis market is 3x the legal market
Posted on 9/17/20 at 2:43 pm
Posted on 9/17/20 at 2:43 pm
LINK
i would love to have an adult conversation on this topic, especially with those who are opposed to nationwide legalization
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?
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?
8
Posted on 9/17/20 at 3:06 pm to cgrand
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.
Posted on 9/17/20 at 3:30 pm to cgrand
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.
Posted on 9/17/20 at 3:47 pm to Brettesaurus Rex
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.
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.
Posted on 9/17/20 at 3:54 pm to LSURN98
my daughter moved to boston this summer...she goes shopping for me at the dispensaries 
Posted on 9/17/20 at 4:12 pm to cgrand
"Fully capturing" the illicit market is a pipe dream.
Posted on 9/17/20 at 4:13 pm to cgrand
The competing industries lobby hard against it.
Posted on 9/17/20 at 4:17 pm to AUHighPlainsDrifter
quote:
"Fully capturing" the illicit market is a pipe dream.
is the alcoholic beverage market fully captured?
what about the opioid market?
Posted on 9/17/20 at 4:18 pm to AUHighPlainsDrifter
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.
Posted on 9/17/20 at 4:21 pm to LSURN98
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.
Posted on 9/17/20 at 4:28 pm to cgrand
Posted on 9/17/20 at 4:39 pm to cgrand
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.
Posted on 9/17/20 at 4:48 pm to cgrand
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?
Posted on 9/17/20 at 5:10 pm to Ballstein32
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.
Posted on 9/17/20 at 6:20 pm to Brettesaurus Rex
quote:
Legalize and tax it.
This thought process is the reason there will still be an illegal market.
Posted on 9/18/20 at 8:26 am to fallguy_1978
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.
Posted on 9/18/20 at 8:33 am to cgrand
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.
Posted on 9/18/20 at 9:01 am to DownshiftAndFloorIt
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
Posted on 9/18/20 at 2:33 pm to LSURN98
Massachusetts dispensary.. $16 gram including tax..
NE Ohio black market $8 gram... high quality from both
NE Ohio black market $8 gram... high quality from both
Posted on 9/18/20 at 3:11 pm to Ace Midnight
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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