Business Global Legalization News

Mexico is poised to become the biggest legal marijuana market in the world. Who will most benefit?

Mexico’s marijuana revolution is on display steps from the nation’s Senate, where for the last nine months activists have maintained a fragrant cannabis garden.

Each day, hundreds of people stroll amid a labyrinth of towering green plants, freely lighting joints and getting high.

Their wafting smoke is meant to serve as a reminder to senators, who have to walk through the plumes to get to work. Lawmakers have until Dec. 15 to pass pot legislation under orders from the Supreme Court, which two years ago struck down a marijuana ban as unconstitutional.

After decades of restrictive drug policies that fueled deadly cartel wars, Mexico is poised to become the biggest legal cannabis market in the world.

The looming deadline has intensified debate over exactly what legalization should look like and whom it should benefit. Among the questions dogging lawmakers: How easy or difficult should it be for users to buy and consume pot? And should the estimated 200,000 families growing it now be protected from competition with the large, foreign marijuana firms that have been jockeying for influence?

“You have a broad spectrum of people who want to be involved,” said Avis Bulbulyan, a Glendale-based consultant who has advised several U.S. weed companies looking to expand to Mexico. “The question becomes: ‘Who gets to profit off this?’”

A bill that would allow private companies to sell marijuana to the public is likely to pass in the Senate within two weeks and then go to the lower house of Congress, said Senate leader Ricardo Monreal.

To Read The Rest Of This Article By Kate Linthicum on Los Angeles Times

Published: October 12, 2020

Cannabis company backed by Jay-Z cancels $50M SPAC investment
California Gov. Jerry Brown Announces Appointments to the Cannabis Control Appeals Panel
L.A. County Using Algorithms to Wipe Out 66,000 Old Marijuana Convictions

Leave Your Reply