“Cannibis sells for $hundreds per lb, because it is nearly completely illegal except for some exceptions. When it becomes legal, price will be as low as anything, and 90% of those companies entering the cannibis biz will be bankrupt.
meanwhile, America will still be importing lots of fruits and vegetables.”
Uh, no.
Cannabis sells for hundreds of dollars per ounce; thousands of dollars per pound.
It *is* already legal in a number of states, and the price has remained more or less constant (a slight increase if anything when you factor in the taxes now).
The demand for cannabis is much higher than the current supply.
The price is already dropping, according to a couple of my marijuana growing neighbors. Some of their crop, which they were able to tumble off and sell before, is no longer marketable due to excessive supply. The higher priced stuff (buds?) are selling for much less.