Whether people like it or not, cannabis use is becoming accepted on an international level. Studies demonstrate the health benefits that often rival, if not surpass, the usefulness of prescription medication. Last year, Michigan became the tenth state to legalize cannabis on a recreational level in the United States. Canada also became the most significant country to legalize marijuana last year, and Mexico is likely to follow suit soon. With two-thirds of North America making the proper plays in this industry, it is time for the United States to follow suit. Last week, Illinois approved the legalization of marijuana, and many other states will surely follow this lead. For the aspiring cannabis entrepreneur, opening a Chicago marijuana dispensary should undoubtedly be on the radar.
Pushing for Federal Legalization
All of the states that have legalized recreational cannabis use have struggled with balancing state and federal law. Since this plant is still listed as a schedule 1 drug, it is considered to have no medicinal use whatsoever. Meaning, it cannot be trafficked in any way to other recreational states to create distribution networks. Also, money earned from cannabis sales cannot be deposited in company bank accounts because of federal law and will result in serious prison time. Interestingly enough, the IRS wants American citizens to still report this income on tax returns even though this form of revenue is outlawed federally.
As Illinois becomes the next recreational state, many analysts expect this to be the straw that breaks the federal government’s back. At this point, an endless amount of studies exist demonstrating the medicinal uses for cannabis. Many individuals are not aware of the endocannabinoid system which exists inside of every human. The only reason people can experience some form of high from these plants is that built-in receptors exist. Once the medical industry becomes attuned to the existing and unknown terpene profiles for these plants, medicine will never be the same.