To fight the black market, the price of legal cannabis has to be relatively low. But if nothing else is done, the black market will persist.
Marijuana is known for delivering a good high. But the plant's uses go well beyond the recreational. Marijuana contains a trove of medicinal compounds whose uses we are just now discovering.
About two-thirds of Americans now live in states where marijuana is legal for medicinal or recreational purposes, leading some to worry corporate and Wall Street interests will take over the industry.
In advance of marijuana legalization in Canada, one university in British Columbia has taken a firm stance, banning all smoking of cannabis products on campus.
Cannabis use is linked to psychosis, but only a small number of users will experience it.
Canada is legalizing marijuana on July 1. But how the drug became criminalized in the first place is an interesting saga that involves anti-Chinese racism and international influence.
In competing with Canada's black markets, legal cannabis has potential strengths and weaknesses. Most flow directly from governments' policy choices.
The promised marijuana legalization date of July 2018 is approaching fast. Many outstanding regulatory issues -- such as online sales and occupational health and safety -- pose urgent challenges.