The Economic Benefits of Cannabis

The Economic Benefits of Cannabis

States all over the United States, 29 of them, including Washington DC, have legalized the consumption of cannabis, which is more commonly known as marijuana. The legalization of medical marijuana is mostly supported by the American public. Almost 84 percent of the public is of the opinion that there is no harm in using this drug for medical uses so it should be made legal. Moreover, its recreational use has also become less controversial than before as almost 61 percent of the public is in support.

However, an interesting thing to know about marijuana is that it is not just the medical and recreational benefits that it has to offer; there are economic benefits of cannabis as well and the entire public can enjoy them as a whole. Do you want to know what they are? Read on to find out:

  • It can be utilized as a food source

If you take a look at history, cannabis has been a dietary staple for a number of civilizations. The plant has been cultivated as a source of protein and even today, the drug is used for creating protein powders or you can also buy seeds for consumption purposes. If the prohibitive laws relating to cannabis are overturned and it is produced on a large scale, it can be used for feeding a lot of hungry people. Previously, it was hard to find cannabis at a local store, but now cannabis delivery is made possible because you can buy it online.

  • It is an attractive investment

You can actually use the green for making green. A number of venture capitalists have begun to see the explosive potential that the cannabis industry has to offer. Therefore, they are now investing money in cannabis-based businesses and startups. In fact, cannabis capital summits have gained a lot of popularity, which is attracting entrepreneurs and investors.

  • It can create many jobs

In the wake of marijuana’s legalization in places like Washington and Colorado, tens of thousands of jobs have been created and they can be difficult to ignore. The economy has been slowly recovering since 2009, it is not possible to overlook any opportunity that can add more jobs.

  • It can help in fighting climate change

If large-scale cannabis farms can be established for production, it could be helpful in fighting climate change because it will curb emissions. This would happen in a number of ways like planting more carbon-absorbing plants across huge farmlands, which means eliminating animal farms that produce emissions.

  • It is getting people out of jail

The large rate of incarceration has been a major point of contention in the United States because a substantial amount of money goes into the prison industrial complex. Thanks to legalization, prisons are being cleared out and this frees up resources and time for law enforcement.

  • It creates new industries

Cannabis has helped create a lot of new jobs and that’s because it is creating new industries like cultivation, sales outlets, processing and plenty more.