The Opportunities Party wants to reform cannabis laws by regulating and taxing the sale of cannabis, and funneling the proceeds into drug education and addiction treatment.
The party said the reforms would take $150 million away from criminals, and free up about $180m of police and justice resources for dealing with more serious crime.
Its leader Gareth Morgan said more than 10 percent of all New Zealanders used cannabis in the last year, and a quarter of 15-24 year olds have.
"Prohibition is not working. People are doing this [and] I'm just trying to bring it out of the closet and use the proceeds of that industry to stop this connection with the criminal world which is taking our kids into far more serious circumstances."
He said people would also be allowed two cannabis plants for personal use.