Cannabis is arguably the most abused drug in the world. Half of all drug seizures in the world is marijuana, and the black market makes vast amounts of money from marijuana trafficking. According to a former federal prosecutor who’s now running for Congress, legalizing marijuana may hurt the cartels that feed these black markets.
Adam Schleifer saw the dark side of humanity while working as a federal prosecutor investigating the illicit drug trade. He realized that America made a large part of the illicit drug market, and he came away with one conclusion. Federal legalization.
He is now a congressional candidate, and he argues that federal marijuana legalization is a superior alternative to blanket criminalization. Aside from dealing a great blow to the cartels, legal marijuana will generate tax revenue, create jobs and protect public health, he says.
“Before COVID-19 turned our world upside down, legalization of marijuana was expected to be a centerpiece of New York’s 2020 budget legalization. Now, legalization and the $300 million in estimated annual tax revenue that it will eventually bring will have to wait,” he said.
“This raises an important question. Why are we not talking more about federal legalization of marijuana, which could generate some $132 billion in tax revenue and create 1 million new jobs? Federally legalized, regulated, quality-controlled marijuana would also deprive pernicious international drug cartels of major revenue sources and help us support the integrity of our borders,” he says.
He adds that if undertaken with appropriate health and safety oversight by the U.S. Food and Drug Administration (FDA), “federal legalization would help address our vaping crisis.”
The former assistant U.S. attorney served in Los Angeles from 2016 to 2019, and he is running to fill the seat vacated by retiring Appropriations Committee Chairwoman Rep. Nita Lowey.
He says that at its base marijuana is a product with some medical applications and less physically addictive and dangerous than alcohol.
“We should let American farmers and not international drug cartels meet the demand for marijuana under the framework of federal safety and purity regulation by the FDA. And federal legalization would generate important tax dollars while reducing the financial inefficiencies and fraud that are endemic to our existing state by state patchwork system.”
He says that although the cartels may have a head start in terms of agricultural experience and marijuana transportation and infrastructure, he hopes the criminal element and the violence and predation associated with it will eventually degrade and dissipate.
Experts say the views expressed by the former federal prosecutor are in line with what the marijuana industry, including companies like Round Meadow Holdings Corp. and SinglePoint Inc. (OTCQB: SING), have always said about safeguarding consumers from the risks of black market cannabis products by implementing legalization at the federal level.
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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