Aussies support cannabis legalisation

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A 2024 report by the Penington Institute claimed that cannabis has become an integral part of the criminal economy, representing a $5 billion black market in Australia that generates massive profits for transnational gangs.

“It’s shocking … how integrated it is to criminal networks. It’s an own goal for us. Police are already really busy. Cannabis is a health problem, not a law and order problem”, Penington Institute’s CEO, John Ryan, said.

Ryan argued that regulating cannabis use instead of prohibiting it would undermine the criminal market.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.