Why States Need To ‘Flick The Legal Switch’ On Cannabis Amid COVID-19

The coronavirus outbreak has prevented most businesses from remaining open for the foreseeable future, slamming local economies and devastating state tax revenue.

This grim scenario should be enough to convince states that were previously anti-cannabis to change their tune, according to David Hess, the co-founder of investment firm Tress Capital.

“Whereas several years ago some debate was possible, there is now indisputable data that state legalization equals job creation and tax revenue,” Hess told Benzinga. “Cannabis is simply one of the few sectors that governments can identify where with the flick of a legal switch, revenue and employment can be found.”

In certain states, medical cannabis is legal. In others, it’s available for recreational use as well. But the drug remains federally illegal and will likely remain that way so long as President Donald Trump is office.

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