North America Set to Drive Growth of Cannabis

North America is set to lead the charge for the global growth in the Cannabis Industry moving forward. 2018 has been a banner year for developments and normalization in the Cannabis Industry. Canada legalized cannabis in October and Mexico's Supreme Court opened the doors to legalization in November. In December President Trump signed the 2018 Farm Bill legalization the production of hemp for the first time in 1937. Currently 10 U.S. states support recreational cannabis and 33 states support medicinal marijuana with 46 states having decriminalized it. In addition a number of cannabis-friendly state governors and legislatures were elected during…

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2018 A Banner Year for Cannabis

The market for cannabis in the United States for 2018 is booming more than ever. It's certainly been a banner year for bud. With California coming online with recreational marijuana on January 1, 2018, and other states including <strong><a href="https://conectarrecruiting.com/blog/2-massachusetts-dispensaries-earn-4-8m-in-two-weeks/">Massachusetts implementing retail cannabis operations</a></strong>, the industry has enjoyed a boon, despite still challenging and complex legal frameworks. <a href="https://conectarrecruiting.com/blog/canada-celebrates-cannabis-legalization/">C<strong>anada's legalization of cannabis nationwide on October 17</strong></a> drew International attention, as did other foreign markets, such as <a href="https://conectarrecruiting.com/blog/new-zealand-to-hold-cannabis-referendum-in-2020/"><strong>New Zealand</strong></a>, Luxembourg, South Africa, Mexico and <a href="https://conectarrecruiting.com/blog/thailand-legalizes-medical-cannabis/"><strong>Thailand</strong></a>, announcing their intentions to embrace legal weed. Both the FDA and the DEA approved…

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U.S. States Most Likely to Legalize Cannabis in 2019

After a wave of pro-cannabis governors were elected during the mid-term elections, a host of new states are poised to legalize cannabis in 2019. Currently there are 10 U.S. states that have legalized recreational cannabis and 33 others that have legalized medicinal cannabis. Of the 10 states that allow recreational use, only Vermont achieved recreational marijuana via the legislature versus the ballot box, but the Vermont law is limited in that it does not allow for retail sales. Given the new paradigm of cannabis friendly politicians entering into power and obstructionists on the fade, it's likely a number of states…

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Thailand Legalizes Medical Cannabis
Thai activists who use marijuana therapy hold placards as they gather during a campaign for the legalisation of medical marijuana near Government House in Bangkok, Thailand, November 20, 2018. Picture taken November 20, 2018. REUTERS/Panumas Sanguanwong/File Photo

Thailand Legalizes Medical Cannabis

Thailand, a country long known to have extremely strict drug laws, approved the legalization of medical cannabis this week along with a local plant with similar properties called Kratom. While recreational cannabis remains illegal, medicinal use by patients is allowed. It will also be approved for research purposes. The news is rather profound since Thailand and other South East Asian nations including Singapore, Indonesia and Malaysia are infamous for imposing harsh penalties, including death sentences, for illicit drug use and trafficking. Thailand becomes the first country in the region to legalize cannabis in any form. The law enables the production,…

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Trump Signs Farm Bill, FDA Responds

President Trump signed the 2018 Farm Bill on Thursday following Congressional approval of the measure last week. The 2018 Farm Bill legalizes the production, sale and distribution of hemp products on a Federal level for the first time in 80 years. This is an incredibly significant development for the Cannabis Industry as legal hemp will open the floodgates of potential products derived from the plant. In particular a boon in the development and marketing of CBD products is expected given the new legal framework. Yet CBD remains a schedule 1 drug and the FDA maintains its authority over and regulation…

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Budweiser and Tilray Announce Major Partnership

Tilray and Budweiser today announced a joint venture in which each firm will invest $50 million towards developing beverages infused with THC and/or CBD. This on the heels of Tilray’s announcement on December 18, 2018 that it had partnered with Novartis Pharmaceuticals to facilitate international distribution of co-branded Tilray cannabis products. The development is yet another compelling example of big business aggressively pursing the increasingly legal and normalized cannabis market. In October Coca-Cola made waves when news leaked that it was analyzing the potential of creating beverages infused with CBD. Last week Altria Group, producers of Marlboro Cigarettes, invested $1.8…

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Tilray Stock Soars After Big Pharma Partnership Announced

Brendan Kennedy, CEO of Canadian cannabis firm, Tilray, spoke with CNBC today to discuss Tilray's announcement of its global partnership with international pharmaceutical sales and distribution firm, Novartis. The dialogue covers Kennedy's strategic point of view on how the global medicinal cannabis market is poised for a predictable growth trajectory in the next 12-24 months as countries around the world approve medicinal marijuana. Citing recent legalization initiatives in Mexico, the United Kingdom, New Zealand and the EU, Kennedy expects that within two years the number of countries with legal medicinal markets will grow from its current 35 nations to upwards…

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New Zealand To Hold Cannabis Referendum in 2020

In another example of the global community embracing cannabis reform, New Zealand today announced its intention to put forth a binding resolution to hold a national referendum for the legalization of recreational cannabis in the 2020 general election. Just last week New Zealand approved medicinal cannabis for the country, with today's announcement for a recreational referendum following conspicuously close behind. The existing governing Labour Party made a promise to the Green Party in trade for for a promised confidence vote in the existing government. Chloe Swarbrick, an MP within New Zealand's Green Party said that New Zealand is "...indeed moving…

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Congress Passes 2018 Farm Bill to Legalize Hemp

Today the US Farm Bill passed in Congress, paving the way for the legalization of hemp, a plant that has a multitude of uses and is also a prominent source of CBD oil. Hemp has been categorized as a Schedule 1 drug for over 50 years, despite having been used by societies going back to the Egyptians at least. In World War 2 the US Navy used hemp ropes for all of its ships. In a House vote today the Farm Bill passed 369-47. The Senate passed the Farm Bill yesterday in an 87-13 vote and President Trump has indicated…

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2 Massachusetts Dispensaries Earn $4.8M in Two Weeks

The State of Massachusetts legalized recreational cannabis in 2016 yet it’s taken two years for the Commonwealth to get its act together and allow dispensaries to open. Accessibility to the cannabis-consuming public finally came to fruition in November when the first two dispensaries in the state opened with vigor. In the first two weeks revenue hit $4.8 million. Friday November 23 saw single-day sales set a record of $479,000. In just 14 days over 65,000 units were sold. These statistics clearly indicate that demand for recreational cannabis is robust. It will be interesting to see how Massachusetts supports the ongoing…

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