As the world begins to become a global stage for the progression of cannabis culture, new countries continue to warm up to the idea of normalizing a substance that was once a “high risk” threat to the order of society.
This week we turn our sights to our friends in the south as Mexico steps up to the plate and reveals that key officials are pondering legalization as well as legalized cannabis sales. Mexico sits on newly formed land as days before their supreme court shocked the country and ruled the laws that prohibit the cultivation, general use and possession are against the constitutional rights of the citizens. A massive step towards beginning to repeal any individuals plagued by the marijuana related criminal statues. It looks like some of our smoke trails must have made it all the way down there.
Within the rules of Mexican law any subject matter that is ruled in the same way by supreme courts five times, means the government must begin to amend certain policies that go against the collective mind of the courts. This could mean they are no more then a couple years away from legalization. I’m sure many analysts are biting at the teeth to quantify the ever-growing global markets with Mexico possibly joining the play. Does this help justify the billion dollar valuations of many Canadian companies with global syndicates or only give them more competition in a soon to be crowded space?
“We are going to take a step forward in the regulation that may already involve the production, marketing and distribution of marijuana,” says Olga Sánchez Cordero, an interior secretary of the up and coming government party.
The History of Marijuana Policy in Mexico
Mexico has a long history with marijuana policy as back in 2009 it decriminalized the possession of up to five grams, with a list of other more precarious drugs, in an attempt to view addiction under a new light instead of as a criminal offence.
In 2015 real change began to take way as the media would shift public attention to an 8 year old named Graciela Elizalde. Graciela was suffering from extreme epilepsy, and her only know aid to stop and contain her seizures was CBD oil. She quickly became the first Mexican medical marijuana patient with the approval and support of the Supreme Court of Mexico.
The Bigger Picture
Before this can become a reality Mexico has a long way to go, as many social groups are not totally convinced yet. Right now 81% of the Mexican population is catholic, and religious right groups stemming from the catholic church system are speaking out and continue to shelter their in-pain medical community from cannabis. With no real progressions on the education of medical marijuana they lack the accurate information or medical studies to back up the claims. However medical studies are being done on a global scale in many other countries, Canada being one of them. This may eventually change the heavy cloud of stigmatization in Mexico with a cloud of reefer smoke. As an investor in the Canadian markets, this only validates how important legalization and the blossoming field of medical studies will be for the financial future of many companies. More importantly how the role of cannabis may be defined in pain management, pain medicine and many other challenges we face medically on a global scale.
Make sure to continue to follow the story, as Mexico paves their way. Always do your own due diligence.
Happy Investing!
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