The 4 Things Many States Get Wrong When They Legalize Marijuana
Wednesday, 28 April 2021
Marijuana legalization has gone mainstream. In November, voters in four states approved recreational cannabis, and legislators in Virginia, New Mexico, and New York followed suit in early 2021, sending bills to all three governors' desks.
But the term legalization obscures vast differences in how states regulate marijuana businesses and consumption. Oklahoma arguably passed the most free market medical marijuana rules among the states. Michigan's recreational marijuana regulations largely embrace free and open markets, while Colorado's have steadily liberalized since legalization. Unfortunately, most other states are choosing highly restrictive market structures that undercut their ability to foster economic growth and quash the black market (we're looking at you, California!).