The Largest Moments in Cannabis During 2018
FeaturedMarijuana Industry NewsUncategorized December 28, 2018 MJ Shareholders
The medical and recreational cannabis market around the world has reshaped drastically during the 2018 year. With a large amount of investments and political changes both coming into the marijuana sphere, 2018 was a transformative year for the world of pot. Here we can take a look back at some of the biggest happenings of the year, and hope that 2019 will bring just as much good fortune to cannabis as prior years.
One of the largest shifts in the world of cannabis during 2018 was the legalization of recreational cannabis throughout Canada. Not only was this the first time that a G7 nation legalized adult use of marijuana, but this also helped to create a domino effect showing that it is possible to legalize weed on a large scale.
Back on October 17th, Canada decided to begin the sales of adult use cannabis for those over the age of 21. Canada, however, came in second to Uruguay in regard to legalizing weed, but regardless the scale is still massive. The move to legalize the substance has helped to bring in new revenue to the nation in the form of taxes and high growth within the market.
On the same playing field, California legalized the use of marijuana for those over the age of 21 as well. California is widely regarded as the largest and wealthiest cannabis market in the world, which makes this a huge deal for the whole of the industry. California has been looked at around the world for quite some time as being one of the biggest hearths of change. With the legalization of cannabis, this proves that yet again, California is able to make controversial laws work in their favor.
One of the issues with these legal markets, however, has been the skyrocketing price of cannabis. New competition has increased the price of marijuana by a large margin, and this has worried some as to whether or not individuals will begin to go to the black market to fuel their drug use. Either way you look at it, the legalization of cannabis in California is a large stepping stone to federal legality throughout the U.S.
Support for legal marijuana has also shot up tremendously during the past year. Many of those who voted against its use, have now made up the overwhelming majority of those in the U.S. that do in fact support the use and legalization of cannabis. Some studies have shown that as much as 67% of the public in the U.S. support legalizing weed, which could help to overturn our age old restrictions on the substance from a federal level.
During this year, Michigan became the first state in the whole of the Midwest to legalize the use of cannabis. Similarly to the legalization mentioned above, this is quite a big deal considering that other states have not done so in the surrounding area. The hopes are that this can help to push surrounding states to put in similar legislation in the coming years.
All in all, this year for cannabis has been quite legendary. With many states and nations around the world working to change their laws, cannabis looks like it is definitely here to stay.
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