Globalization:
Americas: Expect to see six to eight U.S. states and five Central and South American countries to decriminalize or legalize cannabis use on a medical or adult-use basis.
European Union: While major social perception shifts have been underway, legal changes are likely restricted to new medical markets in no more than one to two EU nations.
Africa: While land, labor and climate are conducive to low-cost cultivation, the lack of infrastructure and corporate honesty will likely limit expansion in the near future. Lesotho remains a market to watch, with cannabis its third largest source of revenue.
Russia and the Middle East: Perception and acceptance shifts are unlikely anywhere in this region.
Asia: Expect additional loosening of markets in China and India, positive news out of Japan, and a reduction in criminal penalties in two additional countries.
Presidential Election:
We are not in the business of calling election outcomes – the list below is simply a reference for candidate cannabis positions. We don’t expect major policy change this year, though the election outcome will certainly have an impact moving forward:
Joe Biden: Supports decriminalization and rescheduling cannabis to a Level II drug under the Controlled Substances Act.
Michael Bloomberg: A staunch opponent of legalization and decriminalization, responsible for more cannabis arrests in NYC than mayors Ed Koch, David Dinkins and Rudy Giuliani combined.
Cory Booker: A vocal critic of the war on drugs and introduced the 2019 Marijuana Justice Act as lead sponsor.
Pete Buttigieg: Has admitted use and supports national legalization. His position is made clear by his statement: “We cannot incarcerate ourselves out of this public health problem.”