Cannabusiness

In what amounts to a collective “duh” moment for the non-cannabis enthusiasts out there, a recent study illustrated that marijuana is very expensive when it’s illegal. Not surprising, the cheapest weed in America comes from Washington and Colorado, where it is legalized.

Title: Legal weed is the cheapest weed, Source: http://big.assets.huffingtonpost.com/WeedPrices_900w_1.jpg

I have friends in the Chicagoland area and they are always jealous of how cheap and good my weed is out here in Washington. As the infographic denotes, medium-quality weed in that part of the country ranges above $300 per ounce. I want to give big kudos to Illinois for legalizing medical marijuana as it is definitely a step in a positive direction.

Also of note is that cannabis is comparably cheap to grow and store so it is theorized that, should full legalization go nation wide, the cost of marijuana will be on par with tea and tobacco. Prohibition costs a ton, not just in the social damage and wasted tax dollars that get poured into the justice and penal system. Consumers have to pay the high prices because they have no choice with a black market. Legalization takes profit out of the criminal’s hand and puts any money that does get generated by cannabis back into the community.

The study calls the reason for the high prices a “risk premium.” Make it legal, remove the risk factor, see the prices drop and keep the money locally where it can grow our nation. Pouring money into the criminal system to fight a drug that can generate a ton of money is like trying to move forward with your car in reverse and slamming on the accelerator.