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Home 🌿 Recreational Marijuana News 🌿 Shifting opinions open doors for cannabis legalization worldwide 🌿Shifting opinions open doors for cannabis legalization worldwide
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Over the past several years, the cannabis industry has witnessed an immense rise in global support as numerous countries have publicly advocated legalization. While many still remain indifferent, notable nations such as Australia, Colombia, Germany, France, Spain, the U.K., and the U.S. have all moved to implement some form of cannabis legislation. In particular, medical cannabis is much more prominent because of the plant's therapeutic abilities. On the other hand, countries such as Uruguay, Canada, and parts of the U.S. have even legalized its recreational adult-use. Moreover, a handful of countries have decriminalized recreational use, meaning that consumers can use cannabis in moderate amounts without fear of jail time. But, despite global efforts, cannabis still remains on the Schedule 1 list of drugs, which is a list of the most regulated substances. Nonetheless, the cannabis industry is already a thriving multi-billion dollar marketplace, largely due to the U.S. and Canada. The North American region predominantly drives the global cannabis industry because of its flourishing recreational market, as the U.S. began adopting cannabis legislation back in the 1990s after California became the first state to legalize its medical use. Then, in 2014, Colorado and Washingtonmade history by becoming the first two states to legalize cannabis fully. On the other hand, Canada implemented a partial medical cannabis program back in 2001, which was limited to specific chronic conditions. However, in late 2018, Canada made history by becoming the second nation ever to fully legalize cannabis. Now, the industry is experiencing tremendous momentum as more countries such as Mexico, New Zealand, and Thailand are exploring opportunities within the industry. According to Mordor Intelligence, the cannabis market is expected to reach USD 89.1 Billion from USD 14.5 Billion in 2018. Additionally, the market is expected to register a CAGR of 37% during the forecast period from 2019 to 2024. Chineseinvestors.com Inc. (OTC: CIIX), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Tilray, Inc. (NASDAQ: TLRY), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB)
While cannabis legalization is quickly penetrating global markets, it is still heavily regulated by federal officials. However, researchers have been evaluating the efficacy of cannabis in order to expunge the misconceptions that surround the plant. Through extensive clinical trials, researchers uncovered that cannabis is primarily split into two parts, hemp and marijuana. Primarily, the common stereotype of "getting high" is associated with cannabis' marijuana component, which is predominantly composed of THC or tetrahydrocannabinol, which causes psychoactive effects on the consumer. On the other hand, cannabis' hemp derivative is mainly composed of CBD or cannabidiol, which does not stimulate mind-altering effects. And although they two both derive from the cannabis plant, their biological makeup widely differs. However, both derivatives are in high demand for the recreational and medical markets. Specifically, the medical marketplace is using marijuana to alleviate severe conditions such as symptoms associated with cancer, chronic pain, multiple sclerosis, epilepsy, Alzheimer's and Parkinson's. Conversely, the recreational market is enjoying cannabis simply for its social and relaxing qualities. Now, the combination of the recreational and medical segments is expected to deliver worldwide cannabis spending of USD 44.8 Billion in the next five years. "The rise in legal cannabis is increasing in appeal as the demand for the plant shifts from illicit and illegal to promising and profitable," said Melek Dexter, Founder and Chief Executive Officer of ReUP. "The future of cannabis includes removing barriers to access and control so that everyone can benefit."
Chineseinvestors.com Inc. (OTCQB: CIIX) announced earlier in April, "that its wholly owned subsidiary, ChineseHempOil.com, Inc. dba Chinese Wellness Center ("CWC") will launch a pop-up kiosk in the Glendale Galleria mall, located in Glendale, California, beginning May 1, 2019. The pop-up kiosk will carry various industrial hemp/CBD products, including CWC's own OptHemp product line.
'We are excited to bring our brand directly to the shoppers in the Greater Los Angeles area,' says Mr. Warren Wang, Chief Executive Officer of ChineseInvestors.com, Inc. 'Building on the current success of CWC's industrial hemp/CBD product offerings, this pop-up kiosk will allow us to further engage with our local consumers beyond our online presence.'
The CWC pop-up kiosk will be located on the first floor of the Glendale Galleria Mall. The kiosk will sell industrial hemp/CBD products, including NuLeaf Naturals, Joy Organics, MedTerra, Hemp Meds, Medix, and CWC's own OptHemp products. CWC will introduce special offers, promotions and giveaways for Glendale Galleria customers.
CWC has been operating in the United States since 2017 as one of the first companies to promote and sell industrial hemp/CBD products to the domestic Chinese-speaking community. CWC is constantly looking for new and innovative ways to promote wellness in the Chinese community and is dedicated to offering the best personal wellness products and solutions to its customers.
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