Mexico Aims to Legalize Cannabis Before October
By October, Mexico could join Canada and Uruguay as the only countries with legal, adult-use (recreational) cannabis. This is a big deal for a lot of reasons. One is that Mexico has a population of nearly 130 million. That opens up a huge market. It’s also a big deal because the countries on either border of the US will have legal adult-use cannabis before America get it done.
Should Mexico indeed move forward with legalization before October, as well as develop a plan to reduce or eliminate cartel interference, it could be on a path to usurp Canada as the most important marijuana market in the world. The reason? Just look at the population variance between the two counties. Canada had a population of 37 million in 2018, with about one in six adults using marijuana during the fourth quarter. Meanwhile, Mexico has a population of approximately 130 million. If a similar percentage of adults pay for legal cannabis, Mexico could dwarf Canada in terms of long-term sales potential. […]
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