There is a shift occurring in the status quo around the westernized world. As more governmental bodies discover the innate and overwhelming data in support of the cannabis legalization in territories and countries like the USA and Canada, it’s only a matter of time before we begin normalizing the practice in the open.
While the USA is going state by state in terms of their legalization tactics and approach to the matter, countries like Canada are brute-forcing change at a systemic and country-wide level. Legalizing for recreational use in 2018, the country was taking a mighty gamble in terms of impact and widespread risk, but it has paid off in spades.
The Companies On The Rise
Through the legalization, though not without its hiccups and road bumps along the way, some companies have seen a riotous rise in profit margins thanks to the legalization. Stores like Seed & Stone would not have been feasible pre-2018, and now are one of the largest retailers in the country.
The companies that are turning this profit are doing so through a legal institutionalized system that is no longer operating from the back of a 4-seater car.
Instead, the modern companies are espousing a very open-door policy when it comes to newcomers and veteran smokers alike, giving potential opportunity to growers to sell their wares in an open environment.
Taxation For The Masses
Tax. The word sends chills down even the heartiest of spines, but they pay for all manners of the public experience, hospitals, roads etc. The legalization of the industry has opened the floodgates to potential funding projects that can be partially funded by the revenue generated by the once illegal plant. In the fiscal year of 2019-2020 alone there was a reported $32millionCA generated on a federal level from sales.
While still in the infantile years of the legislation, there is only speculation as to where the industry can go in the next 20-30 years. Let us not forget the tempestuous history of alcohol in countries around the globe with prohibition eras and mistruths being fired on all cylinders before settling into the normalised state it is in many societies.
One of the unforeseen results of legalization has been the innovation in the technology surrounding its consumption and usage amongst adults in the country. We’ve come a long way since the ‘Cannabis Cookbook’ and joint rolling technique. There are edibles like gummies, sodas and confectionary, vaporizers, liquids and ointments all becoming more and more nuanced and developed thanks to the light of legality.
With so many developments, a good taxation system in place, and relaxing of oversimplified laws, there really is a smoky light on the horizon for Canada, and the rest of the world will likely be following suit in the near future.