In our neighbor to the north, the cannabis industry is budding at an incredible pace. Canada legalized medicinal marijuana all the way back in 2001, and Health Canada, its version of the U.S. Department of Health and Human Services, has been overseeing licensing and production ever since.
Today, Canada stands on the verge of legalizing recreational cannabis. A bill introduced in April 2017 has made its rounds in the federal government and is set for a June 7 Senate vote that should lead to legalization shortly thereafter, assuming passage in the Senate. According to regulators, adults over 18 in Canada should be able to legally purchase cannabis beginning in August or September, leading to $5 billion or more in annual sales, if approved.
The US Cannabis Industry Is Stuck In Neutral
Comparably, the United States is stuck in the marijuana “Stone Age.” Not only is there little hope of recreational legalization on the horizon, but there’s virtually no chance that the federal government with alter its Schedule I classification on pot, which makes it entirely illegal and categorizes it as highly prone to abuse and having no recognized medical benefits.