What’s Next For The Marijuana Industry?

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What’s Next For The Marijuana Industry?

Daniel Lowrey, Author

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Lately the marijuana industry is at a great unknown, just coming in to the market with both supporters and opponents, even with arguments among themselves, some saying only to decriminalize it and some arguing for full legalization. But this brings one to question, What’s next in 2020? With the presidential election coming up, will recreational marijuana finally be legal in the United States?  

Thirty-three states have legalized medical marijuana, including New Mexico, but legalization of marijuana for recreational is being debated. The states that have legalized recreational marijuana have reported problems such as teens and young adults struggling with academics when using marijuana.

The Washington Post reported a study by the Review of Economic Studies that found “college students with access to recreational cannabis on average earn worse grades and fail classes at a higher rate.” Getting off marijuana especially helped lower performing students who were at risk of dropping out.

But most of the 2020 candidates support legalization, which leaves the question, Will recreational cannabis be legal in the United States of America? The most likely possibility is that it will be legalized but not the minute the next president gets into office.

The lawmakers in Santa Fe worked on a bill that ultimately failed in the 2019 legislative session. According to Las Cruces Sun News, “New Mexico lawmakers got a peek Saturday at the complexity of establishing a legal marijuana industry that would allow adults 21 and over to smoke or consume cannabis for recreation.” At the center of the debate is a 140-page bill that would legalize, tax and regulate the recreational use of marijuana for adults. The state now allows cannabis only for medical purposes.” This shows that there is still an unknown variable in this new market.

One reason that Americans don’t fully endorse recreational marijuana is because it gives teens easier access to it.

Another reason is that the tobacco companies have invested heavily in this market, according to The Motley Fool, an investment advice website: “Big Tobacco makes its initial bid for the cannabis market, a subsidiary of U.K.-based tobacco giant Imperial Brands, the company behind the Kool and Winston cigarette brands, announced that it had joined with seed investment firm Casa Verde.” The likelihood of tobacco companies getting into bed with politicians to have marijuana legalized is very likely to happen.

And on top of that, the idea that marijuana might become the new tobacco is a real fear among Americans because corporations could make marijuana more addictive by adding certain chemicals, similar to the harmful chemicals found in cigarettes. Already, some marijuana being sold already has higher concentrations of THC and additives such as wax.

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