In states that have legalized the use of weed for either medical or recreational purposes the pricing of marijuana will vary on the sample size and the level of potency the hemp plant will provide. With its acceptance in several states in the United States, the need to overprice to make due for its illegality has been cut short due to the number of increasing licensed dispensaries one can purchase marijuana from, almost as easy as walking into a store for groceries.
The price differential of weed from previous years is distinct from its current pricing. For instance, the price for an eighth ounce of weed is less now than it was in previous years before its legalization, even in states where it is sold illegally. Perhaps the pricing of weed in the future is determined by its approval in states by the federal government as a beneficial drug.
For commodities that are sold under the radar such as weed in states where it is deemed illegal the price, quality, and quantity of your pot will always vary depending on the buyer. This is because there is no definitive price tag on “Illegal black-market commodities.” Causing economic disparity in the country.
Differences in the pricing also cause states that have been legalized to lower the price of high-quality weed since there is high consumption. As opposed to states where there are restrictions in the sale of marijuana the price will be higher even on lower quality pot due to its lack in the market.
The significance of price differences across states is only relative to the states that have legal jurisdiction for the use and sale of weed. Other states will vary since there is no specific quota that suggests a mandatory price range for the sale of “illegal” marijuana.
There is some evidence to show that even though some states are banned from the sale of marijuana, they will tend to gravitate to the price influence in neighboring states to some extent. This shows these states are using weighted margins to create their average price.
States that have had the privilege of weed being legalized earlier on, as a beneficial drug for both medical, recreational purposes, as well as it is a national commodity have a much lower pricing index and a larger supply of legal marijuana due to the numerous cannabis industries that are growing and selling the hemp plant.
With the increase in growth of technology, licensed cannabis industries have advanced with the help of tech companies such as the software development industry that aim to make efficient and easier payment methods for its users. Creating applications that are made for the sole purpose of purchasing marijuana.
The adoption of these methods and the pricing of marijuana however are still determined by the influence of the government categorizing. And how they categorize it as either “illegal” or “legal” in its states. For weed to be completely integrated into the market with smoother prices, it would have to be legalized
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