Cannabis is going mainstream

Posted by Hempfy Team on


Cannabis hempfy is going mainstream worldwide

The regulation of Hemp varies from country to country. Cannabis reform at the international level refers to efforts to ease restrictions on cannabis use under international treaties.

The Single Convention on Narcotic Drugs makes a distinction between recreational, medical and scientific uses of Hemp plant. Many nations now adopting legislations that permit medical and restrict recreational use of cannabis. For example in the US, 27 states currently have laws legalizing marijuana in some form. You can check your country status by clicking on the link below:

Legality of cannabis by country

Legality of cannabis by U.S. jurisdiction

Recent report by a ArcView Market Research firm found that legal hemp sales, only in the US, will reach $6.7 billion in 2017. BofA Merrill Lynch  expects cannabis market (recreational, medical, food other infrastructure like testing labs, tools for testing) could reach growth up to  +36bn by 2020. 

Bank of America Merrill Lynch (cannabis report) is particularly bullish on pharmaceutical companies that have in pipe-line and conducting clinically approved trials on cannabis based drugs.