Economic and Health Benefits of Cannabis Legalization

Cannabis is a drug that comes from Indiana hemp plants such as Cannabis sativa and Cannabis indica. Cannabis has two main cannabinoids: delta-9 tetrahydrocannabinol (THC) and cannabidiol (CBD), THC is the psychoactive compound. Instead, CBD is the non-psychoactive component of the plant. In fact, it has shown therapeutic activity and cannabis with less than 0, 1% of THC is recognized as medicinal cannabis. The legality of cannabis for medical and recreational use varies by country. For instance, in Colombia is already legal the cultivation and medicinal use of cannabis. Nevertheless, cannabis still has a big stigma and there are legal barriers that make difficult the exploitation of this plant. Thus, the legalization of cannabis for recreational and medicinal use brings economic benefits to the government and investment opportunities. This will also aid access to the therapeutic effects of cannabinoids and allow us to control the cannabis potency. On the one hand, legal marijuana represents benefits to the economy because, with a regulated adult-use cannabis market, governments are able to tax cannabis sales. For example, in the United States, there are some states where cannabis is legal such as Washington where de local government collected $559. 5 million of legal marijuana revenue in 2021. Hence, cannabis tax revenues can be allocated for social services and programs. Furthermore, in Colombia by 20221 foreign investment in the medical cannabis industry reached a value close to $292 million and the Minister of Justice and Law, reported that 532 hectares of cannabis were planted in Colombia until May 2022. Besides, it is estimated that by 2030 the sector will have generated between 35, 000 and 40, 000 jobs in Colombia. Therefore, it is evident that where legal obstacles have been abolished cannabis market represents a great opportunity for economic growth. On the other hand, the National Academies of Sciences, Engineering, and Medicine reported that in adults with chemotherapy-induced nausea and vomiting, cannabinoids are effective antiemetics. Moreover, it has been identified that cannabinoids can interfere with the pain pathways in the brain, and in adults, cannabis improves spasticity symptoms. Thus, is clear the potential benefits of cannabis but while marijuana remains illegal, research on the therapeutic potential of cannabis use is limited, because is arduous to carry on clinical trials, that is why it is important to guarantee a regulation that favors and promotes the research on this plant. Finally, the legalization of cannabis adult-use is a better social policy than criminalization because it allows to protect adult consumers. According to World Drug Report 2021 by the United Nations Office on Drugs and Crime, in the last 24 years, cannabis potency had increased by as much as four times, which means that the percentage of THC has been incremented and this intensifies the adverse effects of recreational cannabis. In consequence, with cannabis legalization, it will be easier for the state to control the potency of this drug in order to guarantee a harm reduction to the consumers. In conclusion, the legalization of cannabis for recreational and medicinal use represents a measure that brings economic benefits in terms of higher income for the country. In addition, it promotes research to take advantage of the promising therapeutic activity of cannabis and favors the implementation of measures of harm reduction to preserve the health of consumers.