The last time the Liberals proposed decriminalizing marijuana, we faced the real prospect of being penalized by our neighbours to the south. Now it seems as though our American friends have a burgeoning legal marijuana market of their own.
Recent figures show that cannabis sales in Colorado alone (which legalized the substance two years ago) topped U.S.$996.2 million ($1.37 billion) in 2015, providing the state with $135 million in taxes. Even in California, where recreational pot remains technically illegal, legal medical marijuana sales were also estimated to be worth close to $1 billion last year. A recent report from ArcView Market Research estimated that as more states reform their drug laws, the industry could be worth $22 billion nationally by 2020.
It should therefore come as no surprise that so many Canadians want a piece of what is sure to be a lucrative market, now that the Liberals have pledged to legalize marijuana and the Supreme Court of Canada has struck down the ban on medical cannabis patients growing their own bud.
– Read the entire article at National Post.