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International Cannabis Weekly: 2

July 12, 2017

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Regulations & Politics

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Market Focus

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The European Cannabis Blog

COULD ITALY FULLY LEGALISE RECREATIONAL CANNABIS USE?

In April, in an effort to develop attitudes towards cannabis even further, The Radicali Italiani Movement announced plans to introduce a bill that proposes the full legalisation of adult cannabis use in Italy.

 

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The European Cannabis Report

Currently, Europe’s illegal recreational cannabis economy has an estimated value of €18bn, which demonstrates the economic potential of a legal market. The medicinal cannabis industry alone is expected to grow at 15% per annum for the next 3 years.

Recreational marijuana attitudes are changing fast and although currently illegal, we at Prohibition Partners believe there is a 60% – 70% probability of legalisation within the next 3 to 5 years. However, the challenge will be combining the industry’s traditional values and approach, with the level of corporate and professional knowledge required to scale.

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