Mexico is setting the stage for recreational cannabis legalization, or should I say the stage for the legal guidelines to be implemented. According to multiple media reports, recreational cannabis is already legal in Mexico. Mexico courts have ruled on five separate cases declaring that restricting a citizen from consuming cannabis is unconstitutional.
Upon the 5th ruling of this nature, recreational cannabis in Mexico became legal in essence. What has yet to be implemented is the structure that will guide recreational cannabis regulation, production, and sales. This includes things such as licensing fees, taxes, permits, and other infrastructure necessary to implement a successful retail cannabis industry in Mexico.
The president of the Senate’s Political Coordination Board (Jucopo), Ricardo Monreal, told media the “bill will not be voted on this week.” Pressure from outside company influence is causing the delay on this vote. Instead of the vote happening on Tuesday, 10/29/2018, it’ll be sometime in the “first weeks of November.”
“Jucopo is made up of the coordinators of the parliamentary groups represented in the Chamber, and the coordinator of the parliamentary group with the absolute majority presides over the entire legislature.”
SIL
All too often, it seems politicians delay and stall on issues of cannabis legalization. Media reports say that the Senate has asked the Supreme Court for an extension on the deadline placed for cannabis legalization. Should the Senate not meet the deadline issued by the Supreme Court, the court is prepared to issue a declaration of unconstitutionality.
If this were to happen, the action taken by the court would basically make growing cannabis at home legal. However, it would not set up a legal market for cannabis sales and businesses to operate. This is a very important issue. Jucopo has pledged to “ensure that lobbying in the Senate remains under control.”
When the regulation process is implemented, it will open the doors to legal cannabis sales for 120+ million people. This will put America in a canna-sandwich with adult-use retail or, as some call it, recreational cannabis legal on a federal level above and below the U.S.A. Even though cannabis is legal both medically and recreationally in many places across America, it still remains illegal on the federal level.
“Due to the imminent legalization of cannabis, many large companies, such as Aurora Cannabis, have started acquiring smaller firms in the country. Aurora Cannabis acquired Farmacias Magistrales S.A., which would provide the company a first-mover advantage and an exclusive supply of medical marijuana to the growing Mexico market. Moreover, other Canadian market leaders, such as Canopy Growth Corporation and Tilray, are expected to enter this market owing to the immense potential it will hold post-legalization for recreational use.”
Grand View Research
While there may be delays for the legal recreational cannabis market in Mexico, it will happen. With significant investors from Canada and elsewhere setting up shops across Mexico, it’s just a matter of time. It does appear that the Mexico Supreme Court is prepared to do something for its citizens that the American Supreme Court is not. That is, stand up for the rights of citizens of their country and issue a declaration of unconstitutionality.
“The global cannabis market is thought to be worth USD$150 billion today. Barclays, in their European Consumer Staples Report in September 2018, suggests that this figure could increase to USD$272 billion by 2028.”
The GREENFUND
Cannabis legalization is a big business that brings in millions of dollars to areas that embrace it and billions of dollars globally. Mexico looks like they will be the next to go green and legalize recreational cannabis for the entire country following in the footsteps of Uruguay and Canada. This will be good news for Mexico.
“The Mexico medical cannabis market size was valued at USD 47.3 million in 2018 and is anticipated to register a CAGR of 27.7% over the forecast period.”
Grand View Research
Now, if only America would get on board and remove cannabis from federal prohibition, a global cannabis trade could be created. That looks to be an issue that will be one of the focuses of the 2020 U.S. presidential election. Perhaps America will finally see 20/20 in 2020 when it comes to going green and removing cannabis from its illegal federal classification.
When we talk about cannabis legalization providing an opportunity for criminal justice reform that includes social equity – paying the cops with cannabis profits is definitely not what most had in mind. Thankfully, in Portland, Oregon officials will no longer use cannabis-derived tax funds for the city’s police budget. Mayor Ted Wheeler announced a redirection…
Aside from the atrocities military personnel must face in the line of duty, many aspects of service continue to knock at their door daily, even after returning to civilian life. One aspect of service that many veterans live with daily is known as PTSD or Post-Traumatic Stress Disorder. This condition, which has affected veterans since…
Are you looking for the perfect cannabis strain to address your needs? If so, you’re probably weighing the benefits of indica vs. sativa. You’re probably familiar with the sedative effects of indica strains of cannabis and, by contrast, the invigorating and uplifting effects that sativa strains are known for. However, the indica and sativa strategy…
Researchers demand higher quality cannabis. The DEA promised a few years ago it would let more people grow cannabis for research purposes, but it wasn’t until late last month — as the country locked down under safer-at-home orders to combat the coronavirus pandemic — that the agency unveiled a plan for how it would do…
The cultivation and sale of cannabis are becoming legalized in more and more places across the United States. As of 2020, cannabis is fully legal in eleven states, legal for medical use in 22 states, and legal for medical use with limited THC content in 14 states. In only three states—Idaho, Nebraska, and South Dakota—is…
By now, we have all seen that the quality and potency of cannabis is increasing and improving compared to long ago and…
When it comes to choosing the right cannabis strain, there’s a lot of advice out there to consider. By now you’ve probably…
The word ‘endocannabinoid’ seems to belong to cannabis at first glance. However, some may be surprised to find out that all humans…
