Bloomin photo medical rec.jpg

How Medical Cannabis Will Help Legalize Recreational Marijuana

 By Roger Malespin

October 22, 2018 photo/istock/wildpixel

There are a good amount of people in the cannabis community who are hopeful about the prospect of legalization, but still think it’s too optimistic to say it’s a foregone conclusion. I’ve spoken with many who feel that the federal government has too much invested in keeping people in jail for small marijuana convictions to ever change. While there is some truth in that claim, I’m here to put your worries to rest and convince you that no matter how the feds try to fight it, decriminalization at the federal level will happen within our lifetime.

The catalyst for this change will be 2 things - medical marijuana and the global economy. Here in the States, more than half the country has legalized medical cannabis in some form, and 9 states have legal recreational use. Thanks to a combination of smart voters, science, and legislators who are brave enough to challenge the old ways, these changes all contribute to eroding the perception of cannabis. There have been several political heavyweights from both sides of the aisle openly advocating and funding medical marijuana, which would never have happened even ten years ago.

So how does the global economy fit into it? Because the same trends we are experiencing here in America are being implemented in developed countries around the world. Major economies in Europe such as Germany, France, and Italy, as well as Australia, are just some. The scientific data and proven trials of cannabis oils for medical purposes are known all over the world. The demand for medical cannabis is so high that these countries cannot keep up with it, and are turning to Canada for extra imports.

This is the reason why Canadian cannabis companies are on fire in the global exchange market. Additionally, Canada is going to become the first developed country to have full recreational legalization, so the barriers for growing and exporting will be removed or significantly lessened. This means that Canada will very likely become the world’s number one exporter of medical cannabis, and as cannabis becomes an accepted globally traded commodity, we will see a domino effect of legalization in the aforementioned countries due to the public demand and the economic benefits.

Whatever your opinion on the intentions of the federal government, I think we can agree that one thing they will not like is watching our neighbors to the north and other major economies reaping the benefits of the new global commodity while they are left out of it. The profits gained by states with legalization range from tens of millions to hundreds of millions. This means that a federally decriminalized and regulated cannabis industry can potentially lead to hundreds of billions in tax revenue for the government. Even if they are slow to change, the quick rise of the global legal cannabis market will affect them sooner than later.

There are 39 countries in the world that have some form of legalized medical marijuana. There are 1.2 billion people within those countries who are potential buyers. The legal cannabis industry in a way has already passed the U.S. by before it has properly started. Once Canada legalizes next month and the exports and profits start flowing around the world, the U.S. government will, ironically, find itself the victim of an aspect of the global economy which it has so strongly influenced.

Rest assured, if the will of the people, hard science, and state legislation isn’t enough to make them change, watching the hundreds of billions of dollars made by every big player besides them on the world stage certainly will.