Maryland Governor Vetoes Marijuana Decriminalization Fix Bill
Here's what might happen to marijuana prices if it were legalized across the US
Over the last two decades marijuana has practically been an unstoppable force.
Since 1995, 23 states have legalized marijuana for medicinal purposes, while four states (along with Washington D.C.) have legalized all aspects of marijuana, including its recreational use for adults. Even in states where marijuana failed to gain approval initially, such as Oregon, the proverbial scales were tipped in favor of supporters just a few short years later.
Even Congress is getting in on the act. In March, three U.S. Senators introduced the CARERS Act, which is a bill aimed at decriminalizing medical marijuana. The CARERS Act would make it easier for banks to make loans to legal medical marijuana businesses, would remove some of the barriers associated with medical marijuana research, and most importantly would reschedule marijuana from a schedule 1, or illicit drug, to a schedule 2 drug, signifying that it does have medical benefits, even if it is prone to abuse.
But, have you ever really thought about the hypothetical economic implications of what would happen if marijuana was made legal nationwide?
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