The Dark Side of the Cannabis 'Gold Rush' – Entrepreneur

June 30, 2021 5 min read

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Medicine, cooking and smoking — whatever the use, cannabis has been a big part of the press lately.

Cannabis is the most consumed drug in the world. According to a report by the European Monitoring Center for Drugs and Drug Addiction (EMCDDA), published in June 2018, more than 24 million people use it in Europe. Three quarters of consumers are between 15 and 34 years old. And while cannabis has proven to be addictive and detrimental to , it has become so popular around the world that in some countries it has been legalized as a “recreational drug.” 

“Green gold,” as it’s called today, is not only a drug, but also a source of profit in tourism, medicines, cosmetics and many other sectors. Even as the legalization of cannabis raises real public-health concerns, it generates a form of frenzy, excitement and even euphoria about the potential market.

The cannabis-industry study shows that in a healthy competitive market, prices are falling, product quality is improving, violence is decreasing and honest trade is taking the place of illegal transactions. While new studies regularly reveal the potential virtues of the plant, the stigmatization of medical and recreational consumption leaves room for a demand for a quality product. 

Related: How Much Are States Making In Marijuana Tax Revenue?

A history of legalization

Production and sale of marijuana was first legalized in Uruguay in 2013. To combat the illegal trade of this well-known drug, the country chose to establish a state monopoly to offer cannabis at lower prices and higher quality.

Canada legalized it in June 2018, approving in majority Bill C-45, which authorizes the consumption and production of marijuana throughout the country. It was an election promise by current Prime Minister Justin Trudeau. And with this “yes” to cannabis,

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