Mexico City, Mexico – Legal cannabis is coming to Mexico, and many foreign investors are chomping at the bit.
Mexico has been inching closer and closer to full legalisation ever since its Supreme Court of Justice ruled in 2018 that banning the drug was unconstitutional. In January, the country’s health ministry laid out regulations for its use for medical purposes.
Now, a bill to legalise recreational use by people over the age of 18 is in the hands of the country’s Senate of the Republic, which is expected to vote on it this month.
There is plenty of money to be made: the size of the medical cannabis market alone in Mexico is expected to reach $249.6m by 2025, according to an analysis by United States-based consultancy Grand View Research.
Major global cannabis firms such as Canopy Growth, Biomedican and Aurora Cannabis have been keeping a close eye on the legislative developments in Mexico with a view to profit from a…