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Posted On: 06/18/2018 9:19:35 PM
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7 Reasons Marijuana Won't Be Legalized in the U.S.
Sean Williams, The Motley Fool
Motley FoolJune 17, 2018
Throughout much of North America, the legal cannabis movement has been unstoppable. Last year, Mexico legalized medical marijuana, while Canada is currently in the final stages of becoming the first developed country in the world to legalize adult-use weed. Even the United States has witnessed steady progression, with 29 states (and Washington, D.C.) passing broad-sweeping medical cannabis laws since 1996.
According to cannabis research firm ArcView, the North American legal pot market generated $9.7 billion in sales last year, which was up 33% from the previous year. Of course, a vast majority of aggregate marijuana sales are still conducted on the black market, giving the industry and investors hope that there's still many years of huge growth that lie ahead.
A rolled cannabis joint lying atop a cannabis leaf on a table.
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Image source: Getty Images.
Cannabis isn't legal in the U.S., and it may not be anytime soon
Of course, that growth could be severely hampered in the United States, where marijuana remains a Schedule I drug. As a Schedule I substance, it's entirely illegal and par for the course with LSD and heroin, considered to be highly prone to abuse, and has no recognized medical benefits.
The interesting thing is that the American public appears to strongly disagree with the federal government's continued stance that cannabis remain a Schedule I drug. Gallup's national survey in October 2017 showed that 64% of its respondents favored the idea of legalizing marijuana, representing an all-time high. Meanwhile, a poll from the independent Quinnipiac University in April 2018 found that an overwhelming 93% of respondents favor the idea of physicians being able to write prescriptions for medical marijuana.
So, why hasn't marijuana been legalized in the United States? Keeping in mind that I'm here to offer a neutral take, here are seven of the most logical reasons behind why pot will remain illegal at the federal level.
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YahooFINANCE
7 Reasons Marijuana Won't Be Legalized in the U.S.
Sean Williams, The Motley Fool
Motley FoolJune 17, 2018
Throughout much of North America, the legal cannabis movement has been unstoppable. Last year, Mexico legalized medical marijuana, while Canada is currently in the final stages of becoming the first developed country in the world to legalize adult-use weed. Even the United States has witnessed steady progression, with 29 states (and Washington, D.C.) passing broad-sweeping medical cannabis laws since 1996.
According to cannabis research firm ArcView, the North American legal pot market generated $9.7 billion in sales last year, which was up 33% from the previous year. Of course, a vast majority of aggregate marijuana sales are still conducted on the black market, giving the industry and investors hope that there's still many years of huge growth that lie ahead.
A rolled cannabis joint lying atop a cannabis leaf on a table.
SCROLL TO CONTINUE WITH CONTENTAd
Image source: Getty Images.
Cannabis isn't legal in the U.S., and it may not be anytime soon
Of course, that growth could be severely hampered in the United States, where marijuana remains a Schedule I drug. As a Schedule I substance, it's entirely illegal and par for the course with LSD and heroin, considered to be highly prone to abuse, and has no recognized medical benefits.
The interesting thing is that the American public appears to strongly disagree with the federal government's continued stance that cannabis remain a Schedule I drug. Gallup's national survey in October 2017 showed that 64% of its respondents favored the idea of legalizing marijuana, representing an all-time high. Meanwhile, a poll from the independent Quinnipiac University in April 2018 found that an overwhelming 93% of respondents favor the idea of physicians being able to write prescriptions for medical marijuana.
So, why hasn't marijuana been legalized in the United States? Keeping in mind that I'm here to offer a neutral take, here are seven of the most logical reasons behind why pot will remain illegal at the federal level.
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