Why is industrial hemp STILL illegal in most places?

[Gamma Male]

Seriously. Can anyone name a single good reason? It's not a drug, and legalizing it would do wonders for our economy.

[thatcountrykid]

Well considering Colorado is missing about 21.5 million in marijuana taxes I can see why. There will always be a black market so people don't pay taxes on it.

[Vlerchan]

There will always be a black market so people don't pay taxes on it.
I think that the >60% transfer rate of cannabis smokers to legal channels was quite good. I don't think anyone was expecting a 100% transfer rate or anything similar - and you're never going to. Colorado is still taking in large amounts in taxes (3.5 million per month-ish - note: alcohol takes in an average 3.3 million per month) - prospective revenue figures (i.e., X + 21.5 million) are severely exaggerated number because under the law Colorado state would have to refund the tax payer anything above that: I doubt anyone was expecting anything near that, except perhaps the people who don't understand how legislating for these sort of things work.

Regardless, don't you support the idea that criminals are losing out on money, limiting the scope for their existence? Legislators are doing a better job killing the illegal marijuana blackmarket industry than the police ever have or ever could (marijuana (http://edition.cnn.com/2013/09/05/health/marijuana-use-rising/), and drug use in general (http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/29/the-white-house-is-spending-billions-to-combat-drugs-but-drug-use-keeps-rising/), is on the rise despite Washington pumping increasing amounts of money into fighting drug 'crime'.)

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But this is off-topic because marijuana and industrial hemp are not the same thing, despite coming from the same plant.

[Gamma Male]

Well considering Colorado is missing about 21.5 million in marijuana taxes I can see why. There will always be a black market so people don't pay taxes on it.

And that black markets share of the market will decrease with legalization to make room for legal crops.

[TheBigUnit]

Why do we still put poppy seeds on bagels though?