Marijuana Legalization and Cannabis Prices

Legalization Slashing Pot Cannabis Prices

It will take several years of legal recreational use before the effects of marijuana legalization become apparent. Regulating a pot market will have diverse impacts on society as a whole, most extremely positive. One is becoming immediately clear: Weed has never been cheaper than it is currently. Prices are falling and show no signs of stopping. Steven Davenport, from the Pardee Rand Graduate School, has been analyzing retail cannabis prices ever since Washington State opened its legal recreational markets back in July 2014. Fantastically, prices have since been dropping in every single quarter. Approximately 18 months ago, Davenport reported a staggering 58.5 percent decrease in retail weed prices. However, he correctly predicted that the price collapse would continue further. Currently, weed sells for approximately $7.38 per taxed gram, which in just three years of a legal market, represents a 67 percent decline in sales prices. For consumers in the future, …

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