No. 2: The world is going to pot

Published on December 30, 2020 by oz. staff

Cannabis is growing around the world, and this year it gained even more momentum.

Israel laid out a roadmap to legalize recreational cannabis within a year.

Mexico is working on its own plan to legalize recreational cannabis; though it’s been delayed a few times.

And the US election saw four more states legalize recreational cannabis use through referendums: New Jersey, Arizona, Montana, and South Dakota.

That makes 15 states that will allow legal adult recreational use of cannabis.

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With President-elect Joe Biden slated to move into the White House in January, federal changes are on the horizon.

Meanwhile, those familiar with the global market say Europe is currently sitting where Canada was about five years ago, and expect big changes overseas. That’s also clear from the investment that many major cannabis companies in Canada are making in the EU.

We are watching Australia closely, as they are a world leader in cannabis research and have a legalized medical marijuana. The Australian Capital Territory is the only place on the continent that has legalized recreational cannabis.

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