2019-03-01

Reason Cannabis Reform Framework Project

Laws to legalize marijuana raise important questions about how best to regulate these newly legal markets. This effort is challenging because robust black market supply chains already existed to satisfy the demand for marijuana. Thus,... Read more
Laws to legalize marijuana raise important questions about how best to regulate these newly legal markets. This effort is challenging because robust black market supply chains already existed to satisfy the demand for marijuana. Thus, policymakers and regulators are faced with the challenge of: • establishing a legal market in an industry with which they are largely unfamiliar, • balancing the tradeoffs between ensuring sufficient oversight and public safety • generating public revenue through taxation, and • simultaneously creating a business environment in which legal suppliers are not just able to compete, but, hopefully, to drive out black market suppliers. Since regulatory and tax burdens increase production costs for legal operators relative to black market suppliers, these goals are often in conflict. To date, states have developed vastly different approaches for establishing their legal marijuana markets and balancing these competing objectives. No approach has been perfect in its totality, but states have experienced success to greater or lesser degrees within certain aspects of their regulatory frameworks. Read less
Los Angeles, CA ( Global)
March, 2019

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