SLIDE 6 Global Market for Cannabis and Market Environment
Current Regulation
- As of the date of this publication, medical use of cannabis is legal in
Canada, Israel, Belgium*, Austria* Netherlands, Czech Republic, Denmark (4-year pilot project), Estonia, Spain, Greece, Portugal, Croatia, Mexico, Chile, Uruguay, Poland, Finland, Norway, Macedonia, Germany, Jamaica, Australia, Italy, Colombia, Slovakia, Lesotho and Switzerland;
- Cannabis is classified as a Schedule IV drug in the UN Single
Convention on Narcotic Drugs (the “Convention”); the Convention, however, allows independent nation states the choice of establishing cannabis for medical and scientific purposes.
Legality of Possession of Small Amounts of Cannabis Exemptions for Medical Use
L e g a l o r E s s e n tia lly L e g a l Ille g a l b u t d e c rim in a liz e d Ille g a l b u t u n e n fo rc e d Ille g a l N o in fo rm a tio n M e d ic a l U s e L a w s in P la c e
Regulatory Outlook
- The US does not show a sign of uniform legislation on the near term,
although states are increasingly moving toward recreational use and robust medical use programs. The preponderance of states have legalized cannabis in some capacity, and only a single digit few still enforce misdemeanor possession laws on the books;
- In Canada, legislation allowing for national adult use is set to take
effect on October 17, 2018, with nationwide dispensaries and other distribution outlets set to open to an eager adult use population;
- Experience in the US and Canada suggests that, once in place,
medical cannabis laws are difficult to repeal, which may be due to a multitude of factors such as acceptance by the population at large, increased tax revenues, lower healthcare spending, and other social and economic considerations.
S o u rc e s : U N O D C , D E A , F ro n tie r F in a n c ia ls G lo b a l L e g a l C a n n a b is R e p o rt.
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* O n ly w ith p re s c rip tio n o f s p e c ia lis t d o c to r
