As soon as 2017, Canada’s leaders may allow the use of recreational marijuana nation-wide. Canada has already legalized the use of medical marijuana in 2001. By next year, Canadian citizens could be buying cannabis from every pharmacy and liquor store in the country.
Even the current talks on the subject are motivating investors, marijuana farmers, and industrialists to mobilize and to do what is in their power for the motion to be passed. If Canada goes green with recreational marijuana, then local Canadian growers would finally be legally permitted to partner up with big investors, and be legally authorized to open bank accounts, and to erform banking transactions.
Currently, medical marijuana sales in Canada sum up to a yearly approximate of $150 million. In the United States, the same sales total to an annual estimate of $4.3 billion.
With only medical marijuana being currently legal, only licensed producers are legally empowered to distribute marijuana by mail, and the recipients must have the necessary medical approvals. Nevertheless, the situation may drastically change if the federal court ruling to be had in August of this year is granted. The grant would allow all Canadian patients to grow their own legal source of medical marijuana.
Such a change could create an exponential amount of trade routes between Canada and the United States when compared to the current medical marijuana market. Due to a greater legislative liberty in Canada, some United States medical marijuana firms have already opted to build their production facilities in Canada.
With over 15 years of industry in the field of medical marijuana, Canada’s laws and regulations have been adapted to allow the legal manufacturers to use the market more accurately.
In comparison, only a few of the United States legally enable the use of medical marijuana. Even if any additional states do pass the motion for marijuana to become medically legal, the product may still be considered federally illegal if taken out of the state.
Additionally, the authorized licensed producers have been met with severe competition from the black market growers who avoid the mandatory taxations and regulations on the product.
While the general public belief is that in the perceivable future both medical and recreational marijuana will be legalized, it would seem that US citizens need to wait a while longer, or plan a trip to Canada sometime in 2017.
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