For today's weed news we go to the great continent of Australia.
Recreational cannabis makes money! If you don't believe me, just take a look at the $1 billion dollars in tax revenue that Colorado has raked in since legalizing recreational weed.
And now it seems like investors in Australia have taken notice and are beginning to push the legalization conversation back into the headlines down under.
"It's a product very much like alcohol and gambling that's recession-proof because it's a product of recreational consumption for adults," said Auatralian investment strategist Mark Bernberg.
Mark also believes that if Australia legalized and taxed recreational Herb, the government would no longer have to continue wasting money on arresting people for having or smoking weed, and the country would actually stand to gain a lot of cash that could be spent on parks, schools, social programs as well as infrastructure and more.
Although the country technically legalized MMJ back in 2016, most Australians find that it's easier and more cost-effective to continue buying herb on the black market. According to recent public opinion polls, the majority of Australians would like to see adult use recreational weed become a reality in their part of the world.
If the country did legalize recreational weed, and allowed for large-scale cannabis cultivation within their borders, experts predict that legal cannabis prices would have a chance to become more competitive, if Herb did not have to be imported from elsewhere.
Furthermore, Australia's neighbor New Zealand just announced that they have agreed on the exact wording of the recreational Cannabis legalization question that will appear on a ballot for New Zealanders to vote on in 2020. So from the looks of it, the weed situation in that part of the world may improve significantly in the next year or so.
Let's hope that the Australian government pays attention and also gives their citizens a chance to make their voices be heard by putting legalization up for a national vote either this or next year.
And that's what's up in Australia!
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