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3 Reasons Marijuana Will Be Legalized Sooner Than Later

Dec 12, 2014 • 3:10 PM EST
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2 MIN READ  •  By Michael Berger
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More than half of the United States has legalized the use of medical marijuana in some form. Colorado and Washington allow residents older than 21 to purchase marijuana legally for recreational purposes.

Marijuana’s medicinal properties are proven to be beneficial and its economic impact has grasped the attention of the nation. Technical420 believes that marijuana will be legalized much sooner than most people expect and here are our reasons why.

More than half of the United States has legalized the use of medical marijuana in some form. Colorado, Washington, Oregon and Alaska allow residents older than 21 to purchase marijuana legally for recreational purposes.

Marijuana’s medicinal properties are proven to be beneficial and its economic impact has grasped the attention of the nation. Technical420 believes that marijuana will be legalized much sooner than most people expect and here are our reasons why.

  1. The GOP has passed multiple pro-marijuana bills– Over the last decade we have seen states led by Democratic Party members legalize marijuana for medical and recreational use. We have also seen strong opposition from states led by Republican Party members. However this has not been the case during 2014. The Republican Party has shifted their stance on marijuana and they have passed pro-marijuana bills during 2014.
  2. Prohibition is an expense; Taxation generates revenue – The United States Government has been printing money to pay off their massive debt for the last decade and every state has budget problems. However, Colorado has brought in over $40 million in tax revenue from marijuana during 2014. If all 50 states are collecting millions of dollars per year from taxing marijuana and spending less on its prohibition, states would be able improve schools, roads, and public services.
  3. Cannabis may have its Schedule I label removed– United States District Judge Kimberly Mueller may rule that the Schedule I label on cannabis is unconstitutional due to the medical benefits associated with the plant. Judge Mueller is expected to deliver her verdict in early 2015. The reason why it might be removed is because:
    1. On the third day of the hearing, both federal prosecutors and the defense agreed that cannabis has medicinal benefits. This completely contradicts the definition of a Schedule 1 substance.
    2. Research has shown that cannabis has medical benefits. GW Pharmaceutical (GWPH: NASDAQ) has developed a variety of drugs that treat illnesses which were derived from the cannabis plant. These drugs are currently sold in over 25 countries!
    3. Medical experts such as Dr. Sanjay Gupta have stated that marijuana has medical benefits.
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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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