Lessons from Washington and Colorado: The Potential Financial Gains of Recreational Marijuana to Canada

19 Pages Posted: 16 Sep 2015 Last revised: 7 Jan 2016

See all articles by Nachshon Goltz

Nachshon Goltz

Edith Cowan University

Ekaterina Bogdanov

York University, Osgoode Hall Law School, Students

Date Written: September 13, 2015

Abstract

While Colorado and Washington are among the jurisdictions spearheading the global trend towards legalization of recreational Cannabis (marijuana), Canada lags behind in the regulatory process - but not in Cannabis consumption. An empirical study conducted in downtown Toronto, as well as studies done by Statistics Canada, reveal that Cannabis use is widespread among Canadians, which indicates that the current regulatory regime is not effective as a deterrent.

This paper details the results of the above-mentioned empirical study, reviews the regulatory framework of recreational Cannabis use in Colorado, Washington and Canada, and uses taxation data from Colorado to estimate the potential financial gain of cannabis legalization in Canada. The paper concludes with a brief discussion of the non-financial benefits of legalization.

Keywords: marijuana, taxation, Canada, Washington, Colorado, Legalization

Suggested Citation

Goltz, Nachshon and Bogdanov, Ekaterina, Lessons from Washington and Colorado: The Potential Financial Gains of Recreational Marijuana to Canada (September 13, 2015). Osgoode Legal Studies Research Paper No. 4/2016, Available at SSRN: https://ssrn.com/abstract=2659960 or http://dx.doi.org/10.2139/ssrn.2659960

Nachshon Goltz (Contact Author)

Edith Cowan University ( email )

Australia

Ekaterina Bogdanov

York University, Osgoode Hall Law School, Students ( email )

North York, Ontario
Canada

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