(Double Points)
This Midwestern state, known for its cornfields, could be leaving a potential billion-dollar industry (and tax revenue) on the table by not following the lead of Colorado, which has raised over $2 billion for public schools through recreational cannabis sales.
Iowa
What is the most lucrative plant per square kilometer?
Marijuana
Is recreational marijuana legal in Iowa?
No
What is a form of agro-tourism and can most similarly be compared to people who travel for beer or wine?
Cannabis Tourism (alpharoot, 2023)
What are the 2 most known compounds in marijuana?
THC, CBD (Atakan, 2012)
These are levied specifically on cannabis products and can be based on weight, THC content, or retail price.
Excise taxes
What is the expected worth of the cannabis market in 2024?
$64.73 Billion
True or False: Bud & Mary’s is the first to receive a Cannabis Research License in the United States for clinical trials.
True
PESTEL Analysis: a legal factor impacting the industry is that, despite increased state legislation, marijuana remains illegal at the federal level. Using the other factors of PESTEL, what other analyses could be made?
P: the industry's interaction with the Controlled Substance Act (1970).
E: the global cannabis industry is projected to earn US$64.73 Billion in revenue (2024).
S: attitudes towards drugs following the opioid epidemic.
T: technology within Agribusinesses—plant monitoring, cloning, genetics, etc.
E: concern with forest fragmentation, reliance on abundant water/energy.
In the U.S., how many states can use marijuana recreationally?
24 states (MjBizDaily, 2023)
In addition to excise taxes, many states also apply their standard sales tax on recreational marijuana purchases.
Local state tax
Within the Global Market Share, which continent dominated the global market in 2022 with 81.92% market share?
North America
In what year was the most recent Marijuana Act enacted in Iowa?
2017
What is the capital of cannabis tourism?
Amsterdam (alpharoot, 2023)
True/False: Marijuana is a drug that can be abused.
True (National Institute on Drug Abuse, 2020)
Amsterdam's system allows small amounts of cannabis for personal use, but production and sales are not fully legal. What's the term for this approach?
Tolerance system
Due to the COVID-19 Pandemic, consumption of cannabis increased or decreased?
Increased
What does “decriminalization” mean?
This generally means certain small, personal-consumption amounts are a civil or local infraction, not a state crime.
True/False: a cannabis tax rate is typically higher than the government's general sales tax rate.
True (Urban Institute, 2023)
True/False: patients rarely have trouble bringing up medical marijuana as an option to their doctor.
False (Journal of Cannabis Research, 2020)
Name two reasons why some states with mature recreational cannabis markets have seen a decrease in tax revenue in recent years.
Synthetic cannabinoids
Oversupply
Competition from new markets
Inflation
Lower consumer spending
What are the 3 types of ways people can use Marijuana?
Recreational, Medical, Industrial Hemp
There are four types of stigma: Perceived, Internalized, Anticipated, and Enacted. Which one relates to the thoughts of Marijuana use in the U.S. the most?
All
What percentage of recreational tourists are interested in cannabis tourism?
29% (and 18% of all Americans)(Travel Agent Central, 2020)
True/False: the risk of developing marijuana use disorder is not dependent on age.
False (CDC, 2020)