Legal cannabis scored another big victory this week.
In April, Mexico’s lower parliament overwhelmingly voted to legalize medical cannabis, voting 357 to 7.
Then, earlier this week, Mexico’s President Enrique Pena Nieto signed the bill into law, legalizing the use of medicinal cannabis THC, CBD, and all cannabis derivatives. The new legislation also makes it legal to produce and distribute cannabis for medical and therapeutic purposes.
Sales in the legal marijuana business are blazing hot, brushing $6.7 billion in 2016 — but projections are expected to climb even higher to as much as $20 billion in sales by 2021, according to cannabis research firm Arcview Market Research.
Well, absolutely not, but you could be forgiven for thinking so, based on a cursory review of recent headlines.
Although it hasn’t made much of splash stateside, the big news in South Korea this week is the “marijuana scandal” surrounding a singer from the suggestively named K-pop boy-band Big Bang, who goes by the stage-name T.O.P.
A Nevada-licensed marijuana producer is breaking ground with a Canadian stock listing that allows it to raise funds to grow and sell pot in the legally murky U.S. market, likely opening the door for an influx of others.