Legalizing marijuana for recreational use could lead to an 80 percent reduction in its retail price.
This November, Californians will vote on whether to legalize the growing and selling of small batches of marijuana for non-medical purposes. According to a study by the Rand Corporation, such a legalization will decrease the price of high-quality weed from about $375 an ounce to about $80 an ounce.
This drop in price could result in an increase in demand for pot by between 50 and 100 percent, the study also reports.
Even with this spike in demand, legalization seems like it would be a tough financial blow for your neighborhood weed dealer. He’d probably have to start hording Golden Grahams, if he wants to maintain his profit margin.