Here’s why THIS Country will be the next to legalize Marijuana

Momentum to legalize marijuana throughout North America has taken a big step forward in the past month. Michigan become the tenth state to legalize recreational marijuana use on November 6, Canada’s legal recreational use market opened for business on October 17, and now Mexico appears poised to pass pro-pot legislation following key court decisions and the introduction of a marijuana legalization bill last week. Here’s why Mexico is on track to be the next country to approve of recreational marijuana and what it would mean to cannabis companies if prohibition south of the border ends.

What’s the story?

Over the summer, leftist-party candidate Manuel Lopez Obrador secured Mexico’s presidency on a platform that included rethinking the country’s approach to fighting its war on drugs.

The election of Obrador and his supporters in both houses of Mexico’s Congress sets the stage for a speedy review of pro-marijuana legislation once the new government is in place in December, especially following recent Supreme Court decisions in the country that effectively toss aside Mexico’s former policy of prohibition.

In Mexico, five rulings establish jurisprudence, and on October 31, decisions in a fourth and fifth case found that an individual’s choice to consume marijuana trumps potential risks associated with it. As a result, the rulings overturned Mexico’s ban on recreational use.

In response, Senator Olga Sanchez Cordero introduced a bill in the Senate last week that would create a new system that would allow marijuana to be grown, consumed, and regulated.

The bill introduced by Cordero, who is being tapped by Obrador for the job of interior minister once he takes office, would allow the commercial production, sale, and consumption of marijuana for medicinal and recreational use.

The market opportunity

The marijuana market opportunity in Mexico…

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