The legalized cannabis sector has experienced a significant boom in the last few years. Even during the COVID-19 pandemic, the cannabis industry was one of the industrial sectors that flourished significantly. However, the rise in the legalized cannabis sector is nothing compared to the criminal elements present in it. Here, we will discuss how the increase in the illegal cannabis business affects the legalized marijuana sector.
The Illegal Secret Within the Legal Cannabis Sector
As things stand, 18 states, two territories, and the District of Columbia have allowed recreational cannabis use in the country. Consequently, 36 states and four territories have allowed medical cannabis. This allowance has put the legalized cannabis market on achieving a net worth of $70.6 billion around the globe by 2028.
However, the federal government hasn’t given its nod of approval on the legalized market. Even with the support from the local government, high taxes, and the competition from licensed, illegal cannabis businesses is a lot to handle. Anne Van Leynseele, a renowned Cannabis Lawyer, shares a similar experience in her new book. She discusses her research regarding many legalized cannabis dealers who were also dealing illegally. They use their licenses to launder money through a partner outside the market.
Stopping the Growth of the Illegal Cannabis Sector
We already discussed that the legal cannabis sector in the industry is nowhere near the size and market of the illegalized one. In 2016, California seized over 1.2 million illegal cannabis plants and around 180,000lb of illegal marijuana. The alarming situation is that the market is brimming with entrepreneurs who can’t afford the taxes on the legalized cannabis sector. It’s not just California; every state with a legalized cannabis market has to contend with illegal operations.
Many reports suggest that the legalized cannabis sector is on the verge of spectacular growth, even without federal approval. However, the simultaneous working of the black market can cause problems in the upward trends. Therefore, the first order of business is to eradicate the cannabis black market.
Anne Van Leynseele, in her book, highlights that the federal illegality of state regulatory bodies fosters illegal activity from licensed marijuana businesses. These criminals have the resources to thrive due to the lack of enforcement from the licensing agency that allows them to operate. She believes that the best way to rid ourselves of illicit supplies of cannabis is to have federally-enforced regulations.
Conclusion
During the previous governments, cannabis legalization remained a low-priority issue. Even after Biden was elected, the goal to federally legalize marijuana is still a long way to go. However, with the rapid rise of inflation, legalizing cannabis can be a great start. According to a report, the US legal marijuana created more than 80,000 jobs in 2020. So, imagine what we can achieve with federal legalization.
If you wish to learn more about the illegal cannabis dealing with the legal sector, order Anne’s book today. She documents her experience in a lawyer career spanning over 15 years and wants the readers to align with her goals.
For more information, visit Anne’s website, call at (425) 314-6759 or email at admin@cultivatingchangemedia.com. Follow Anne’s journey on Facebook, Twitter, Instagram, YouTube or order a copy of her book from Amazon.