April, 6, 2019
The elections in Israel on 9th of April will prove to be important about the possibility of legalization of cannabis in the country. Prime minister Benjamin Netanyahu has stated earlier in 2019 that if his conservative party Likud wins another term, Israel will most probably become the third country worldwide (after Canada and Uruguay), which will have a regulated market for adult use marijuana.
This political stance gets Likud the support of the libertarian party Zehut, whose members are known for their pro-cannabis position. While in a narrow interpretation it might all seem as move for Netanyahu to win another term ahead of the centrist Blue and White party, it does show a continuing support, after the government’s decisions during the last mandate to allow greater use of medical marijuana, its export and the decriminalized possession of adult-use cannabis. The impact of these changes in legislation could be clearly seen in the rise of shares of cannabis companies on the Israeli’s stock market.