canna BUZZ
Global Weed Market Expecting Double-Digit Growth
The global legal cannabis market is expected to grow at a compound annual growth rate of around 14.7 percent until 2027 and to reach a value of $ 64.2 billion , according to a report by Acumen Research and Consulting , a global provider of market research studies . Increasing applicability of marijuana in the medical sector and legalization activities by various counties are major factors expected to drive the growth of the global legal cannabis market . The North American market is expected to account for a major revenue share . So far , the legal market is getting boosted by several prescription-only cannabis drugs including Epidiolex ( cannabidiol ), and three synthetic cannabis-related drug products : Marinol ( dronabinol ), Syndros ( dronabinol ), and Cesamet ( nabilone ). And according to the report , the Asia Pacific market is set to take off , while legalization in Mexico will be a boon for the cannabis industry once the Mexican Senate approves recreational legalization .
Finally , New York Legalizes Recreational Cannabis
After years of debating and advancing marijuana laws , lawmakers in New York have gone all-in legalizing the recreational use of marijuana for adults after Gov . Andrew Cuomo signed into law the New York State Cannabis / Marijuana Regulation & Taxation Act . While legalization is effective immediately , you won ’ t find shops opening in your neighborhood until the Office of Cannabis Management has implemented the rules necessary to regulate cannabis . Regardless , individuals in New York may currently possess , purchase , share , and consume up to three ounces of cannabis and up to 24 grams of concentrated cannabis . While it may take months or years for retail sales to start , employers should prepare to comply with the legislation . The move comes after New Jersey also passed a law legalizing recreational cannabis in February . New York will become a massive market for cannabis in the U . S . with 20 million people living in the state .
New Mexico , Other States Legalize It
New Mexico ’ s governor recently signed a bill to legalize marijuana in the state , along with a separate measure to expunge records for people with prior , low-level cannabis convictions . Gov . Michelle Lujan Grisham ( D ) gave final approval to the legislation , a key accomplishment for her administration after she listed legalization as a 2021 priority . Although lawmakers failed to pass a legalization bill before the regular session ’ s end last month , the governor convened a special session to ensure they got the job done . “ The legalization of adult-use cannabis paves the way for the creation of a new economic driver in our state with the promise of creating thousands of good paying jobs for years to come ,” the governor says in a press release . Meanwhile , Virginia lawmakers accepted legal amendments to a cannabis bill that were suggested by Gov . Ralph Northam ( D ), giving final passage to the bill they had initially approved in February .
Uber wants to Deliver Cannabis
Uber could start delivering cannabis once federal regulation allows the company to do so , CEO Dara Khosrowshahi says in a recent CNBC interview . “ When the road is clear for cannabis , when federal laws come into play , we ’ re absolutely going to take a look at it ,” Khosrowshahi says . Marijuana remains illegal under federal law , but Democrat lawmakers have expressed a willingness to change policy . The federal government has been allowing states to legalize the drug with little interference over the past few years . And so far , 17 states , along with the District of Columbia , have legalized cannabis for recreational use . Currently , cannabis delivery services are available with no restrictions in California , Nevada , and Oregon for people who are 21 years of age or older . For now , Uber said it ’ s going to focus its efforts on its current delivery options in its key categories such as food and alcohol . “ We see so much opportunity out there , and we ’ re going to focus on the opportunity at hand ,” Khosrowshahi says .
80 Maximum Yield