The 2019 year has already been quite instrumental in surmounting growth for the marijuana industry. With so many new laws and companies coming into the market, it seems as though this semi-New Year is shaping up to have quite a bit of potential.
An interesting study came out recently detailing some of the sociological impacts that can have an effect on marijuana legislation. The research shows that when the country has an overall positive atmosphere and climate, people are more hesitant to allow legal weed. This may come from the fact that people don’t need an escape as much, but there are definitely a lot of factors at play.
On the other hand, when the communal psyche is down, the opposite effect occurs. Chuck Thompson, a researcher with the institute that conducted the study stated recently that “during times of negative mood, society’s priorities shift. People have other, bigger worries and begin to view recreational drugs as less dangerous, even innocuous.”
The effect of prohibition on the cannabis industry over the course of the past several decades has left a lasting impact on the future of the market. Back in 1937, Congress first passed the Marijuana Tax Act, which would ban the normal consumption of the substance. Since that period, there has been a series of other crackdowns on the drug.
No more was this evident than during the arguably ineffective War on Drugs. While many state that this was a completely failed act, it helped to highlight the issues with the U.S. drug policies surrounding cannabis and a number of other substances.
Currently, marijuana is listed as a Schedule One narcotic which puts it on the same level as substances like heroin and methamphetamine. The main issue with this is that the scheduling implies that there is no medicinal purpose for the drug as well as a high rate of abuse. Both of these facts seem to be highly inaccurate as recent studies show.
With the advent of Canada choosing to legalize the use of cannabis nationwide, it shows that the need for change in the U.S. is very much on the horizon. Studies have shown that the overwhelming majority of the public is in favor of legalizing the use of cannabis, but little actions have been taken from the federal level to make this a reality. Interestingly enough, we have seen a more ‘hands off’ approach to the world of cannabis in recent times, which has led to statewide markets flourishing on their own.
Despite this however, states are unable to have their industries fully function because companies cannot have access to federal services or banks that are backed by the federal government. This has made the market quite difficult to run, but things do look as though they are in the process of shifting. This year should help to create more change in the market as more and more continue to highlight the potential uses and needs for a legal cannabis industry around the country.
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