Back in November of 2016, many marijuana sellers around the United States finally saw it fit to come out from under the black and the gray areas and into the open. Municipal and state law legalized marijuana but under stringent regulations, and as long as sellers, cultivators, and researchers that deal with cannabis are willing to make their profits under the compliance of the law, then marijuana will remain legal in select states (e.g. cannabis compliance and licensing services Oregon) . But just what is the importance of cannabis compliance and licensing?
– 21 billion-dollar Projection
By the year 2020, statistical estimates place the worth of the marijuana business at around $21 billion. Cannabis compliance and licensing put the drug that has been illegal for a long time in the spotlight, meaning that business owners and farmers of marijuana alike will profit immensely.
– More Investors
Rather than dismissing the drug as illegal, restricting its usage has led many venture capitalists to the fields of marijuana. Start up companies were not meant for the technology industry alone as in 2015, the number of cannabis start-ups hit an all time high. As long as licensing and compliance regulations are imposed on the drug, these numbers can only go higher.
– Job Creation
The state of Colorado has provided 18,000 more jobs to its residents, thanks to the marijuana industry. This does a lot for the enhancement of the economy, both locally and nationally. All the other states that voted for compliance have also provided full-time jobs to the locals.
-Restricted Abuse among Youth
After all is said and done, cannabis is still a highly addictive drug that can have adverse effects if abused. Licensing and compliance protect youth from the lesser qualities of the drug by preventing suppliers from selling or giving the drug to any one under the age of 18. Sellers who fail to comply with these regulations can serve up to 14 years in jail and be charged fines of up to $5 million.
-Controlled Access among the General Population
Adults who use the drug are only allowed to possess, share, or purchase a certain amount of cannabis at a time. Just as the compliance regulations protect youth from abuse, it also protects adults from overusing the drug.
– Public Awareness
There are both health risks and health benefits that are associated with marijuana. Licensing and compliance enable the public to see both sides of the drug; the good and the bad, and therefore make informed decisions before using it.
– Reduce Criminal Activity
Marijuana has come a long way, and in the past, a lot of illegal doings surrounded the drug. Even today, some still sell it illegally, but the level of criminal activity has been reduced thanks to the severe penalties, like monetary fines and jail time, that is attached to the licensing and compliance rules.
– Protection of Public Health
Illegal drugs are not always pure in content. The importance of cannabis compliance and licensing is that it helps ensure that sellers only distribute products that are up to a certain standard. Those who consume this product, in turn, are at no risk of being affected in any other way than is expected.