Top 10 Cannabis Business Stories Of 2020

The new decade is considered an opportunity to continue to develop on the foundation laid in 2019, continue to develop a strong cannabis industry, study the medical effects of cannabis in more detail, and promote further legislative reforms. It can be said that 2020 is not the right year. In order to start a Medical Marijuana Dispensary Business in 2021, analyse the development of the cannabis industry, we have reviewed the biggest story in the past 12 months.

  1. Rise in Cannabis Research

There are a number of biases that underlie the research of cannabis, which make it difficult for researchers to get an objective view of the drug.

The most important research of the year took quite a while to materialize, but was still significant. A long-term study looked into the long-term benefits of cannabis in relation to Alzheimer’s disease. Every time that a new study on cannabis comes out, there is increasing support for the drug. This study helps lower the stereotype that cannabis use is risky.

The study seems to have been a big step forward for the science of the industry, and it should serve as a template for more advanced studies going into the future. There has also been a movement to lobby for more research on cannabis’ utility in various areas, such as cancer treatments, but not a lot of research has been conducted on cannabinoids as cancer treatments. Most of the published studies are on individual components of the plant, such as CBD, or THC.

2. Cannabis Dispensaries

It was a year full of activity in the world of cannabis dispensaries. Ontario, Canada’s most populous province, legalized marijuana for recreational use on Oct. 17th. The Netherlands first decriminalized cannabis at the end of March, and in June, Germany legalized medical cannabis usage with no charges or fines for patients found possessing or using it. All this has pushed the legality of dispensaries beyond legality; they were operating with no regulation at all until recently. With the lack of regulation in place, dispensaries have been hit with a number of charges due to their illegal status.

3. CBD Sales

CBD has made a big difference in 2020, which has created some interest in the health supplements market. The drug offers numerous medical benefits that can be treated without harmful side effects and can benefit children without disrupting the endocannabinoid system of the body. CBD has even proven effective in treating depression and anxiety. The biggest news of the year came from the World Health Organization, which announced that CBD was a safe drug with no addictive properties. This helped push CBD sales further and further into the mainstream.

4. Cannabis Legalization in Canada

Canada’s legalization of cannabis in October was one of the biggest events that have shaped the industry over the past year. It has brought the industry more money into the country, which has created an interesting mutual relationship between cannabis retailers and their customers. The move has also led to a big leap in sales. The country is also pushing for further legalization with the passing of Bill C-45, which would legalize cannabis in all of Canada by July 1st, 2021. This bill would make Canada one of the first countries to fully legalize marijuana at once, though that may not be part of the timeline if it does not pass by next year.

5. Germany Legalizes Medical Cannabis

Although Germany’s move to legalize medical cannabis in June has not had an immense impact on the world of cannabis, it is another step forward for the industry. The country was one of the first countries to begin researching CBD as a means of curing illnesses, and finally making that research available through medical dispensaries has caused a big increase in demand for CBD extracts.

6. Senate Judiciary Committee Explores Marijuana Legalization

The U.S. Senate Judiciary Committee has been looking into the possible benefits of banning marijuana in the United States for medical purposes. The study was conducted in order to help give a foundation to future legislation, but no final decision was made. However, the committee did find that marijuana is not as dangerous as previously thought. This means that it is more likely that bills to legalize or decriminalize the drug could pass in Congress by next year.

7. Canada and the United States Jointly Conduct Cannabis Research

Just as the US is considering legalizing medical marijuana, Canada and the US are making joint moves to look into the effects that legalized marijuana would have on health. The study will be conducted jointly between Canadian and US scientists, and will investigate how Canada’s legalization of the drug impacts Canadians. This pairing has never been done before in this way, which shows how excited both countries are to collaborate with one another on cannabis research.

8. Legalization Communities Emerge

Many people no longer feel the stigma associated with cannabis, and are taking advantage of the various outlets to use it. Naturally, online communities have formed where people get together for a glass of wine and a puff on their favourite vaporizer, while also enjoying one another’s company. The cannabis community is still relatively new in this country and will benefit from being able to network through lifestyle events such as these.

9. Legalization Of CBD

One of the biggest legal changes in 2019 occurred on May 25th, when the Federal Government legalized the sale of CBD products that have less than 0.3% THC by weight. This is an important change because it removed any ambiguity surrounding whether or not CBD can be sold legally to consumers. The government also made sure to make it clear that this does not mean marijuana has been legalized entirely.

The government legalized CBD extracts with 0.3% THC, but there has been no major discussion of this move to date. CBD companies have been operating legally for quite some time, but the government used this law to make clear that all cannabis, including CBD extracts, will be legalized as well. This is a huge step in the right direction for the legality of cannabis in Canada and we are all looking forward to the implications on legislation in Canada.

10. U.S. Drugs and Law Enforcement

The United States Drug Enforcement Agency is making it easier for marijuana companies to have their products tested and to pass the test, which can greatly increase the potency of the company’s product as well as reduce the criminal penalties associated with owning marijuana and selling it. The DEA also announced that it will continue to operate in a much more open manner, allowing more transparency into its operations.

These are the top cannabis stories of 2020, which shows that this country is trending in the right direction with respect to cannabis. The trend of legalization continues to move forward in the United States, and has led to some positive developments for the pot industry. We hope this trend continues and that more countries begin to follow suit.

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