MJBizMag March 2021 - 26

IndustryDevelopments | International & State
MAP LEGEND
High level of medical development/implementation
Medium level of medical development/implementation
Low level of medical development/implementation
Other - federally illegal but unique circumstances
Recreational
Countries included have passed legislation at the federal level
and must fulfill at least one of the following criteria:
* Cultivation, manufacture or sale of medical and/or
recreational cannabis allowed.
* Doctors can prescribe medical cannabis.
* Import and/or export of medical cannabis allowed.
High: Countries at the forefront of the global industry.
Frameworks are established, and adoption is well underway.
Medium: Implementation has begun but is still limited or
restricted; lots of room for the market to develop.
Low: Legislation has been passed, but implementation is very
limited or nonexistent. Decriminalization is not included.
National &
International News
Cannabis Advocates Upbeat About U.S. Reforms,
But Legalization Uncertain
U.S. Senate Majority Leader Chuck Schumer's
commitment to make federal marijuana reform a priority
sent cannabis stocks surging in early February. But
experts caution that 60 votes likely will be required to
avoid a filibuster in the U.S. Senate-a tall order in today's
partisan atmosphere.
Schumer and fellow Democratic Sens. Cory Booker
of New Jersey and Ron Wyden of Oregon announced in
a joint statement in early February their commitment to
developing a comprehensive marijuana reform bill.
" To get to 60 senators is going to be a heavy lift, " said
Michael Correia, lead lobbyist for the Washington DCbased
National Cannabis Industry Association.
26 Marijuana Business Magazine | March 2021
Incremental efforts such as cannabis banking
legislation might achieve more bipartisan support.
Banking reform is " teed up. It's the easiest low-hanging
fruit with the longest track record, " Correia said.
Legal Recreational Cannabis Sales in Canada
Outstrip Illicit Spending for First Time
Sales of regulated adult-use cannabis overtook illegal
transactions in Canada for the first time in the third quarter
of 2020, according to data from Statistics Canada.
Spending on nonmedical cannabis products in the third
quarter of last year reached $644 million (CA$824 million),
according to the updated figures. Unlicensed nonmedical
sales, by comparison, were estimated to be $589 million in
the same period.

MJBizMag March 2021

Table of Contents for the Digital Edition of MJBizMag March 2021

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