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Catching the Growth of the Cannabis Industry
The global stance on cannabis is changing rapidly.
With a wave of medical and recreational legalization occurring, there are now 70 countries with some form of legalization. As billions of investment dollars pour in, the cannabis industry finds itself entering a brand new chapter.
This infographic from eToro provides key information for investors on how the global cannabis market is making significant strides forward.
The World’s Legal Cannabis Markets
In just a few short years since legalization momentum kicked off, societal views on cannabis have changed tremendously. Examples of this include:
- Dispensaries being deemed essential businesses during the pandemic.
- Uber announcing its intention to incorporate cannabis deliveries.
- Malta becoming the first country to legalize cannabis in Europe for recreational use.
This shifting dynamic is part of why the global cannabis industry now generates over $20 billion in legal recreational sales on an annual basis.
The title for the world’s largest cannabis market belongs to the U.S.—generating more than $16 billion in sales in 2020. However, their regulatory landscape is also one of the trickiest to navigate, as federal legalization has yet to occur despite over 30 states having legalized cannabis in some form.
While this unique situation leaves a lot of potential money off the table, it also provides lots of potential upside for the industry should legalization trends persist. In 2022, Mississippi, Oklahoma, and Delaware are considered likely to legalize, which would take the small (Read more...)