Easing Regulations Help Boost Global Cannabis Use – PR Newswire UK

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NEW YORK, Sept. 16, 2020 /PRNewswire/ — While cannabis legalization is rapidly spreading, the plant is still considered a Schedule 1 controlled substance under federal regulations. However, with ongoing clinical trials and research, health officials have begun to realize that cannabis can be used as a potential medical treatment. Mainly, most consumers are medical patients using cannabis to ease symptoms related with cancer, HIV/AIDS, multiple sclerosis, epilepsy, Alzheimer’s, Parkinson’s, and chronic pain. Medical cannabis can already be found in many regions around the world, such as parts of the U.S., Australia, Canada, France, Germany, Thailand, and South Korea. Predominantly, the overall CBD market is driven by the medical sector. Generally, most consumers intake CBD through forms of capsule or concentrate. Yet, while CBD is associated with a medical treatment, in some countries, there are little to no regulations regarding CBD in foods. As a result, the global marijuana market is expected to grow from USD 42.20 Billion in 2017 to USD 466.81 Billion by 2025 while registering a CAGR of 35.3%, according to data compiled by Verified Market Intelligence. MediPharm Labs Corp. (OTC: MEDIF) (TSX: LABS), Planet 13 Holdings Inc. (OTC: PLNHF), Trulieve Cannabis Corporation (OTC: TCNNF), Village Farms International, Inc. (NASDAQ: VFF), Aurora Cannabis Inc. (NYSE: ACB)

The fight to legalize cannabis in the United States on a federal level continues, but in the meantime, voters in five states will decide whether to adopt new medical or recreational cannabis laws in the upcoming election on November 3rd. The five states are Arizona, New Jersey, South Dakota, Montana and Mississippi. As it stands now, 33 states have legalized medical cannabis, and of those, 11 states have legalized cannabis for adult recreational use. Matthew Schweich, deputy director of pro-legalization advocacy group Marijuana Policy Project, explained according to Politico, “We’re now working in very red states… If we win in Mississippi, Montana

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