🌿 Cannabis

About

Cannabis (marijuana) is derived from the Cannabis sativa plant and contains THC as its primary psychoactive compound. It is consumed recreationally and medicinally in forms ranging from dried flower to edibles, oils, and concentrates. Despite decades of prohibition, it remains the most widely used controlled substance globally — an estimated 209 million people use it annually.

Market

The global legal cannabis market was valued at approximately $57 billion in 2023 and is projected to exceed $150 billion by 2030, driven by recreational legalization across North America and expanding medical programs in Europe and Latin America. Major operators include Curaleaf, Trulieve, and Aurora Cannabis in North America, while EU-GMP certified producers like Tilray dominate medical export markets.

Regulation

The regulatory trajectory is clearly toward broader legalization, though progress is uneven. As of 2025, 24 US states, Canada, Germany, Luxembourg, Malta, Thailand, and Uruguay have legalized recreational use. Over 50 additional countries permit medical cannabis. The UN's 2020 reclassification of cannabis under international drug conventions — removing it from the strictest Schedule IV — signaled a formal shift in global consensus. Enforcement-first prohibition is in retreat; the open question is now the pace and shape of legalization.