Legal Marijuana Prices Are Plunging in Colorado, but Not for the Reason You'd Expect
As a whole, the marijuana industry has come a long way in a short amount of time.
When medical cannabis was first legalized in California in 1996 for compassionate use, support for nationwide legalization of the drug was only around 25%, per Gallup. A decade ago, just a third of Americans polled supported full legalization efforts. Yet in Gallup's most recent poll, 58% of respondents favored legalizing marijuana for medical and recreational use. In separate polls on the legalization of medical cannabis alone, favorability often exceeds 80%.
With public opinion on marijuana rapidly shifting, we've witnessed a recent surge in state approvals. Today, half of all U.S. states have legalized medical cannabis, and four states (along with Washington, D.C.) have allowed adults over the age of 21 to purchase recreational marijuana. In the upcoming elections this November, five more states will vote on recreational marijuana, and four will decide whether to...
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