The momentum in the marijuana industry is undeniable. Since 1995, 33 US states have legalized marijuana for medical purposes (10 of them for recreational use). The same dynamic can also be observed outside the USA. Today, more than 40 countries around the world have given the go-ahead for medical cannabis, with two – Canada and Uruguay – also allowing the drug to be sold off-site. In fact, the groundbreaking legalization of Canada in 2018 was the first time an industrialized country had fully legalized marijuana.
The big question, however, is always: which country is next? The Cannabisradar editors mean Mexico!
In June 2017, Mexico was one of over 40 countries where medical marijuana was legalized. This is absolutely remarkable considering the control certain drug cartels carry out in Mexico! With the infrastructure for medical purposes already in place, it is time for Mexico to take the next logical step and to fully legalize cannabis as the world’s third country.
Mexico’s legislators do not necessarily consider legalization because they think it’s right, or because an estimated 80% of the population in informal votes support legalization. No, Mexico’s legislators are being forced by the nation’s Supreme Court!
Background: Whenever the Supreme Court of Mexico makes five similar decisions on a matter, the standard set by the court is applied throughout the country. Regarding marijuana for recreational use, since 2015 the Mexican Supreme Court has ruled five times that the imposition of a ban on marijuana for recreational use is unconstitutional. In fact, the Supreme Court has made legalization the standard, and now it’s up to Mexico’s Senate to amend the existing laws to reflect that decision.
Market observers expect lawmakers to use their summer session (May 1 to August 31) to revise legislation to legalize marijuana throughout Mexico. The Supreme Court has set a deadline of October for the development of a cannabis regulation plan.
If Mexico actually pushes for legalization by October, Canada could be replaced as the most important marijuana market to date, with only 37 million people living in Canada in 2018, with about one in six adults consuming marijuana in the fourth quarter compared to 130 million inhabitants in Mexico. With a similar percentage of adults paying for legal cannabis, Mexico could outshine Canada in terms of long-term revenue potential!