How would marijuana affect the economy

Compare Popular Online Brokers. It's clear that marijuana legalization can be a boon to local economies with robust regulatory regimes in place.

Legal Marijuana Is A Boon To The Economy, Finds Study

All told, more and more states are moving to legalize marijuana whether for medicinal or recreational use, or both , and the impact has already been tremendous. However, Arcview Market Research predicts that California will see regulated sales grow at a 23. The more states that legalize cannabis, the lower the cost of enforcement would likely be; if marijuana were to be legalized on a national level, these costs would likely drop considerably.

California's green rush States are legalizing the adult use of cannabis for various reasons, but there's no doubt that one of the primary ones is the potential impact on both the economy and government coffers.

But lawmakers should be wary of legalizing marijuana solely for the potential economic benefits.

Marijuana will add $8 billion to Canada’s economy — at least on paper, TD says

With recreational use of the drug expected to expand to other states in the coming years, how will the continued rise of the sector influence the labor market? We'd obviously see immediate demand from jobs that put workers in direct contact with the cannabis plant: Below, we'll explore some of the key economic benefits of legal marijuana. There is some concern that if legal weed heads in this direction, states will not have the means to keep the regulatory wheels greased.

By the end of the year, that total could be in the mid-teens as states vote on cannabis-related ballots in the upcoming mid-term elections.

how would marijuana affect the economy

However, individuals utilizing marijuana-based products for medical treatment would stand to benefit considerably from lower prices for these items. After the 2016 U.

how would marijuana affect the economy

However, as more and more states move to individually decriminalize pot use in various ways, and as the economic benefits of a legal marijuana industry take effect, there are also many compelling reasons to consider nationwide legalization.

Excessive drinking cost the U.

how would marijuana affect the economy

Popular Stocks. Last year, the state increased marijuana taxes from 10 to 15 percent.

How legal marijuana could change California's economy

Read More. Florida, Arkansas and North Dakota voted to allow medical marijuana while Arizona defeated that move.

how would marijuana affect the economy

The offers that appear in this table are from partnerships from which Investopedia receives compensation. Another reason to consider legalizing marijuana in the U. Getty Getty.

how would marijuana affect the economy

Getty Images. To be clear, marijuana isn't the only fast-growing industry at the moment, and I'm certain it'll encounter its own set of growth hiccups, as any other industry does over time.