Rightly or wrongly, marijuana attracts dollars, a lot of them and we follow the money.
Englewood Cliffs, NJ (PRWEB) April 20, 2010
As the debate around legalization intensifies from coast to coast, CNBC.com offers a comprehensive look at the state of marijuana in America through the lens of business. "Marijuana & Money" thoroughly examines the current marketplace as well as possible costs and impact – both positive and negative – that legalization could have on the economy, government and, ultimately, the consumer.
“Marijuana is an illegal commodity that some people argue causes a lot of social ills. Why promote it, or dignify it even, through coverage? On the other hand, others would say that the medical benefits and economic possibilities deserve even more study,” said Allen Wastler, managing editor, CNBC.com. “Rightly or wrongly, marijuana attracts dollars, a lot of them and we follow the money.”
Complete with more than fifty original stories, interactive features and new videos, "Marijuana & Money" examines a broad range of topics including:
- How Big Is The Market? - Based on a CNBC.com analysis of various government estimates and studies, the market is worth as much as $40 billion a year.
- Tobacco vs. Pharmaceuticals – Both industries probably have plans on the shelf and both can argue expertise, but one stands to benefit more than the other from legalization.
- Law Enforcement Costs – The current effort covering prevention, intervention and detention, costs state, local and federal government a total of almost $14 billion a year. Legalization would also have a high price tag for covering safety, quality and distribution.
- Tax Potential - Taxation would generate billions in much needed revenue, but state and federal policies need to avoid creating a black market.
- Medical Marijuana: Trial and Error – Legalizing medical marijuana is one thing, but managing logistics are another. On the east coast, there are struggles to create an efficient delivery system. Out west, dispensary businesses in California and Colorado are booming, causing officials to scramble to create regulations and taxes.
- Wall St. and Pot – It may not be the choice of high-pressure traders, but it's more common than you think, especially with the expensive, pot delivery services that offer anonymity and convenience.
A hot button issue that generates a wide array of opinions, “Marijuana & Money” also contains commentaries from noted politicians, thought leaders and policy makers including Asa Hutchinson, former U.S. Representative and former head of the U.S. Drug Enforcement Administration; Joyce Nalepka, President, America Cares; Founder, Drug Free Kids; and President, National Federation Parents for Drug Free Youth; Robert Hirshon, former president of the American Bar Association; Edward I. Koch, former New York City Mayor; Dr. Robert L. DuPont, President, Institute for Behavior and Health and former director of the National Institute on Drug Abuse; and Ron Paul, U.S. Congressman (R-Texas).
In addition, “Marijuana & Money” includes the results of a new CNBC/AP poll which offers Americans’ latest thoughts on marijuana legalization, cost of enforcement, medical benefits and, if legalized, how they think it would impact the economy, taxes, the way they invest and their local community.
With CNBC in the U.S., CNBC in Asia, CNBC in Europe, CNBC World and CNBC HD+, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to more than 95 million households in the United States and Canada. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m.- 8:00 p.m.) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC News bureaus worldwide. CNBC.com and CNBC Mobile Web offer real-time stock quotes and charts, CNBC's breaking news & analysis, market and pre-market data. Additionally, CNBC.com provides videos, live streaming of events and market opens in Asia and Europe, and industry and topic-specific blogs from our award winning reporters and guests.