Canada legalized pot... The theory was that government would make tens and even hundreds of millions in taxes... Turns out that didn’t happen. Illegal pot distributers dropped their prices. Grams of pot that typically went for about $10 per gram, dropped to under $5 per gram. You can buy some ounces for $25 per ounce and the super duper pot goes for about $75 per ounce.
Because of these lower prices from illegal sales, the Government pot sales are pretty much negligent. They’re overpaying legal producers and the tax revenue is probably just enough to keep the government agencies that deal pot in business. No profits at all.
So what did the ‘legalization’ of pot achieve?
It has been beneficial for our native population... They’ve pretty much taken over the illegal drug market in Canada... Much to the chagrin of the Government and the Hells Angels.
Another plus for native groups... They produce all the illegal cigarettes in Canada and they formerly used criminal organizations like the Hells Angels to distribute their cigs... Now they just sell them on the reserve for much cheaper prices. You can buy cartons for $20... A carton of legal cigarettes will cost you about $170... So you can imagine how screwed the federal government is when it comes to cigarette revenue. It keeps dropping and they keep claiming it’s because people are quitting... But the fact is, they’re buying illegal cigarettes.
I’ve never touched the stuff, but my guess is that there are plenty of recreational users who would prefer that their activity is legal. That (my guess) outweighs the economic argument.
I think only boomers still smoke weed, lololol
Everyone else gets their THC through vape products and edibles.
It will pass,
Here in The People’s Republic Of New York where weed has been legalized, it sells from anywhere from 50 an ounce to 350 an ounce, depending on quality.