UNDERSTANDING THE BLACK MARKET OF CANNABIS
When tax isn’t paid from the sales of items, when profits can’t be traced, when services rendered can’t be tracked, then a black market is said to have been opened. The cannabis black market is popular as it allows for the purchase of goods at cheaper prices. This market also creates opportunity to make income for those unable to find work because of previous offenses, lack of work papers or visas and lack of access to services that are naturally expensive than in the open market. The black market has all the industries enlisted including the cannabis market.
Cannabis continues to thrive underground even with a government ban on it. People purchase it as a substitute painkiller when prescribed drugs aren’t working. With the recent spate of the legalization of marijuana across the United States, there have been debates if this would affect the cannabis black market. The cannabis industry is a 20 billion dollar industry. No one knows how much the black market is worth.
The cannabis black market has been a source of income for some low-income earners who wants to earn more money. The profit made from this is said to give “a-quality-of-life cushion”. The fact that the black market isn’t taxed makes it even more difficult for the recent legalization of cannabis to affect it. People will still turn to the black market for cheaper cannabis than those sold in retail stores. The price of cannabis in retail stores will naturally be more expensive because of the tax structure that the sale of legal marijuana attracts. Depending on the location there could be up to a thirteen percent tax on cannabis according to their state laws. These taxes directly affect the price of legal marijuana. This will only ensure that the cannabis black market thrives for a long time.
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