Global Ganja Report

Several bills now pending before the Colorado state house will further shape what the legal cannabis economy will look like in the Centennial State—for better or for worse. While some of these measures would mean a freer atmosphere both for "recreational" and medicinal users, others may portend greater big-money control of the fast-growing industry.

Seniors are the fastest growing group of medicinal cannabis users in the coutry, and a growing number of nursing homes from coast to coast are tolerating use of tinctures and extracts to combat dementia, insomnia and related ailments. Patient testimony is now backed up by research, with scientists identifying the mechanism by which cannabinoids slow the deterioration of neurons in the brain. But federal strictures continue to pose an obstacle to investigation—leaving medicinal users in the cold under US law.

Oakland-based cannabis industry research firm ArcView Group has released a new study, ambitiously entitled "The Road Map to a $57 Billion Worldwide Market." It provides a sweeping overview of recent progress and future prospects for legal or medical herb across the globe. But it also warns that, due to continued legal restrictions and bureaucratic overstretch, the market is in most areas bottlenecked from achieving its potential.

A United Nations study brings back the surprise finding that the world's biggest producer of legal cannabis is Great Britain. The answer to this seeming anomaly lies in one UK-based multinational corporation with industrial-scale grow operations for production of pharmaceuticals.

In a sure sign of changing times, the first cannabis-industry business has been listed on the NASDAQ stock exchange—raising clear questions about how long prohibition can hang on in the face of a burgeoning economic sector. Toronto-based medical marijuana producer Cronos Group won approval from the US Securities and Exchange Commission (SEC) to become the first cannabis company listed on NASDAQ, New York City's second biggest stock market, Bloomberg reported Feb. 26.

Colombia, long notorious as a violence-torn drug war dystopia, is now set to become a global leader in legal production of cannabis for the medical market. Vancouver-based International Cannabis Corp, also known as ICC Labs, is the latest foreign company to win a production license in the South American country. ICC Labs says it intends to cultivate "non-psychoactive" cannabis plants containing the cannabinoid CBD to produce various medicinal products for domestic and international distribution.

Medical marijuana advocates and bureaucrats from regulatory agencies around the world have both been awaiting a statement on the risks and benefits of cannabidiol (CBD) from the World Health Organization's Expert Committee on Drug Dependence (ECDD). Now the assessment on the non-psychoactive cannabinoid is in, and it is encouraging news for those who have been hoping for its removal from Schedule 1, the international designation for drugs with no therapeutic value but high potential for abuse.

As Canada prepares to legalize cannabis next year, the country has seen several recent conferences and expositions on how industry and society will manage the transition. The latest, the Grow Up Conference and Expo, opens Oct. 6 at the Niagara Falls Scotiabank Convention Centre in Ontario, and will feature over 100 speakers from a variety of specialties, including doctors and lawyers—with a focus on cultivation.