All the latest information on Cannabis related issues including legalisation around the world and current trends.
Supported in part by pre-existing use, there is a widespread growth narrative for legal cannabis. More regions are transitioning from prohibition to regulation and taxation of cannabinoid products. Consumers are incorporating cannabis into various aspects of their lives - for therapeutic purposes, relaxation, mood management, and more, fueling an 18% compound annual growth rate (CAGR) between 2023 and 2028.
Key Findings
Cannabis is a natural plant that produces chemical compounds called "cannabinoids", which are responsible for its effects on the mind and body. It is used for both recreational and medicinal purposes and has different effects compared to other substances like alcohol or coffee.
There are many names used to refer to cannabis, such as marijuana, weed, flower, pot, plant, and more. It has been consumed in various forms for thousands of years in different countries across the world, including smoking, vaping, and oral ingestion.
According to The Associated Press, the Drug Enforcement Administration (DEA) has announced a significant decision to reclassify cannabis as a Schedule III drug under the Controlled Substances Act (CSA). This comes after eight months since the U.S. Department of Health and Human Services (HHS) recommended rescheduling the plant in response to President Joe Biden's directive in October 2022. The HHS and DEA were instructed to review the federal law's scheduling of cannabis.
The cannabis industry in the United States is currently experiencing significant growth due to the expansion of both medical and recreational programs in 37 states.
However, this promising market also presents unique challenges such as federal regulations, varying state frameworks, and over saturation in certain regions.
On April 1st, Germany will begin the process of legalizing Cannabis as the cannabis bill has been successfully passed.
The Bundesrat in Germany has voted in favour of a national legalization measure for cannabis for adults. The measure, known as CanG, had already been approved by the Bundestag in February.
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