Even as the industry continues to face price issues, there is one winner in all of this: cannabis consumers.
If anyone has cause to celebrate this 4/20 it is cannabis customer. Weed glut has become pervasive in many legal states, causing the price of weed to plummet drastically. The other reason to celebrate is the stigma of weed is fading, which is a big benefit for those using medical marijuana, especially veterans with PTSD. So, On 4/20, a quick overview of the marijuana industry.
Customer should feel it in their wallet – weed is becoming cheaper if you take at the overreaching tax in some states. In the last two years, weed prices in Colorado have plummeted by 51%, according to a BDSA report. Wholesale prices of weed have dropped by 36% and 46% in Massachusetts and Missouri respectively. The plight is even worse in Michigan where prices have fallen by a whopping 75% in the last two years.
Around nine-in-ten Americans say marijuana should be legal for medical or recreational use, according to an October 2022 Pew Research Center survey. An overwhelming majority of U.S. adults (88%) say either that marijuana should be legal for medical and recreational use (59%) or that it should be legal for medical use only (30%). One-in-ten say the drug should not be legal in any form. These views have held steady since April 2021.
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Support for marijuana legalization has increased dramatically over the last two decades.In addition to asking specifically about the medical and recreational use of the drug, the Center previously asked Americans about legalizing marijuana use in general. In 2019, the last time the Center asked that question, two-thirds of adults expressed support for marijuana legalization, more than double the share who said they favored legalization in a 2000 Gallup survey. CA Governor Newsom is also championing federal legalization – maybe it is a way for him to fix the the mess the state has created for legal operators. President Biden and his administration should be paying attention and pass federal legalization – the public wants it, patients need it and veterans deserve it.
April 20 has become an international counterculture holiday based on the celebration and consumption of cannabis. Whether you consumer or not, it is a great day to chill out, be kind to your fellow humans, take a breathe and enjoy your journey.