In recent years, marijuana has become a booming industry in the United States. With its legalization for medical purposes in 37 states and recreational use in 23 states, revenues are projected to reach a staggering $40 billion this year. However, despite this growth, there is still a lack of federal oversight and a patchwork of inconsistent state regulations.
President Biden took a significant step towards decriminalization by pardoning every American who has used marijuana. In addition, recently disclosed federal government documents indicate that scientists are recommending a rescheduling of marijuana. The researchers argue that marijuana should no longer be considered on par with illicit drugs like heroin, suggesting that it should face fewer restrictions. They cite studies showing that marijuana is less likely to cause harm than Schedule I substances.
The review of research also highlights the medical benefits of cannabis products, including their use in treating anorexia, pain, and the side effects of chemotherapy like nausea and vomiting. It is important to note that 'cannabis' refers to all products derived from the Cannabis sativa plant, while 'marijuana' specifically refers to parts of the plant containing significant amounts of tetrahydrocannabinol (THC).
For over 50 years, marijuana has been classified as a Schedule I drug, along with LSD, ecstasy, and heroin. Schedule I substances are considered to have no medical use and a high potential for abuse, leading to severe criminal penalties. Although individual states have relaxed laws regarding medicinal and recreational marijuana, the federal legal status of marijuana remains unchanged.
Scientific experts from the Food and Drug Administration and the National Institute on Drug Abuse now recommend granting marijuana Schedule III status, which categorizes drugs as having medical uses and a low to moderate potential for dependence. Examples of Schedule III drugs include acetaminophen with codeine, anabolic steroids, and testosterone.
Although the clinical effectiveness and safety of cannabinoid-derived treatments are still being studied, they have shown promise in treating various conditions such as chronic pain, neurological disorders, depression, anxiety, and sleep disturbances. However, it is important to address the issue of dependence, as marijuana has been linked to both psychological and physical addiction, as well as psychosis.
The cannabis industry in the United States is expected to continue its growth trend, with sales projected to increase at a compound annual growth rate of nearly 14% from 2024 to 2028. Interestingly, revenue may receive an unexpected boost from individuals participating in alcohol abstinence, as a poll by CivicScience revealed that approximately one-fifth of 'Dry January' participants turned to cannabis products instead of alcohol. This shift in consumer behavior could lead to increased revenue for major cannabis companies like Curaleaf and Green Thumb.
When compared to other regions, such as the European Union, the United States has the highest revenue in the global cannabis market and significantly higher per capita usage. Americans spent around $30 billion on legal marijuana in 2022, surpassing the amount spent on chocolate.
However, the cannabis industry in the United States faces challenges due to the lack of federal oversight and inconsistent regulations across states. In contrast, the Netherlands, which implemented lenient drug policies in the 1970s, provides a model of regulation. In the Netherlands, soft drugs, including cannabis, are tolerated, and sellers and users are not prosecuted as long as small quantities are involved. There are limits on possession and stock, and advertising, online purchases, and delivery of drugs are not allowed.
In the United States, there is widespread advertising of cannabis products, and regulations vary significantly from state to state. Public consumption is prohibited in most states but is often overlooked by law enforcement. Medical marijuana marketing in the U.S. is extensive, with businesses promoting their products for numerous diseases and conditions, sometimes without sufficient regulatory oversight.
The purity and potency of cannabis products in the U.S. are largely unregulated, leading to significant variations in THC content. Similarly, the Dutch government does not impose limits on THC potency. However, they have recently initiated a pilot program to regulate the quality and purity of cannabis products sold in selected establishments.
As the marijuana industry continues to flourish in the United States, efforts should be made to harmonize state regulations and establish a formal legal pathway at the federal level. Creating a comprehensive and consistent set of restrictions will reduce confusion and ensure the safety and responsible use of cannabis products. While it is challenging to directly apply lessons from the Dutch experience, given the differences in size and legal frameworks, there is merit in exploring ways to improve the regulation of marijuana in the United States.
