Cannabis legalized in the world update

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Countries Where Marijuana Is Legal

The moment we published this post, 38 nations have legalized cannabis for medicinal use. Eight of whom have fully or partly authorized marijuana for the use of cannabis. Uruguay and Canada have been the first and biggest country in the world to legalized cannabis on a regional basis. Medical marijuana has been legal in Canada since 2001, but Prime Minister Justin Trudeau’s successful push to allow recreational use has become controversial.

Specifically, there are regions around the globe where drug possession is not a felony, but there is a broad variety of regulations about the usage of drugs and entertainment, including limits regarding whether legalized cannabis can be marketed including developed.

Yet a strong drive for legalization is taking place around the world. Vermont becomes the first state in the country to regulate cannabis in constitutional form, and such regulations come into effect on July 1. Oklahoma has agreed to allow medicinal marijuana, and a revised series of rules becomes approved by the State Health Board in August.

The surge of drug legalization in the United States draws most of the investor’s interest. Yet a parallel drive toward illegalization is taking place all around the globe.

Politics and Legalized Cannabis

In June, the Senate Minority Leader Chuck Schumer introduced the Cannabis Access and Opportunity Act, which will eliminate cannabis from the government’s list of illegal drugs and aim to decriminalize marijuana around the country.

Donald Trump has voiced approval for encouraging states to regulate marijuana individually. Currently estimated at 8 billion, the United States legal market for legalized cannabis could be worth up to billion euros by 2025.

In fact, the surge of marijuana legalization in the United States draws a lot of interest from investors. According to the National Institute for Marijuana Investments, recreational weed has a market size of EUR 14.2 billion in 2020.

However, by 2029, it is projected that the industry will hit an additional USD 3.2 trillion in annual revenues. Until reviewing the eight countries that have approved commercial marijuana usage, here are the 38 countries that actually require medical marijuana.