Marijuana: Latest News and Trends to Know
Cannabis has moved from the fringes of society into mainstream culture as more countries legalize marijuana. Cannabis has become more prevalent in recent years and valued at $9.1 billion in 2020. Furthermore, the cannabis industry will see a compound annual growth rate of 26.7% from 2021 to 2028.
If you have been continuing with the top marijuana latest news, you’ve probably noticed that there’s no shortage of stories about the substance, whether it be about its medicinal use or recreational legalization in certain states.
However, if you haven’t been keeping track of these marijuana trends, you may not know exactly what’s happening with the drug and how it’s affected the country. This article will go over the most relevant trends in the marijuana industry that currently affect both users and non-users alike.
The Softening Instance of FDA
Under the current rules, all drugs containing CBD, a Schedule I substance, require FDA approval. In June 2018, the FDA also approved a CBD, marijuana-derived drug for the first time.
In June 2018, the FDA approved the firm like GW Pharmaceuticals (GWPH) Epidiolex, a CBD-based drug placed into the least restrictive Schedule V of the Controlled Substances Act by the DEA, meaning it has a low potential for abuse.
More Cannabis Products Will Pop Up
Cannabis-infused beverages are likely to become increasingly common. As new cannabis products become available, it’s also expected that cannabis breeders will develop new plant strains.
For example, alcohol companies like Molson-Coors are considering creating a cannabis-infused beverage, and a company like Coca-Cola may acquire a carbonated drink that contains CBD. Furthermore, as more companies enter this budding industry and some companies currently producing alcoholic beverages redirect their focus toward cannabis-infused drinks, things are likely to change in what is already a fast-developing market.
The Changing Attitudes
It’s one of the best marijuana latest news you could come across. A new Pew Research survey found that 67% of Americans favor legalizing marijuana, twice more than the year 2000 and five times more than in 1969.
According to the Pew Research Center, 67% of American adults believe that marijuana use should be legal, up from 31% in 2000 and 5 times in 1969. A New York University study found that the percentage of adults aged between 50 to 64 who use marijuana has doubled. The number of adults of ages 65 and older reporting marijuana use has also grown seven times during the same period.
Only 18 out of 50 US states have legalized marijuana for recreational use as of December 2021, that too, when a more significant number of Americans support marijuana use.
In April 2021, the survey found that 31% of Americans thought marijuana should be legal for medical use only, and 60% thought it should be legal for recreational and medical benefits.
Lobbying for the legalization of marijuana has increased in recent months, as banks, tobacco, alcohol companies, and other corporations have joined union advocates, recreational users, and social-justice activists in pushing for federal legalization.
Marijuana is among one of the most talked-about topics with legalization spreading across the US states so far, plus several countries around the world making strides towards legislation reform, and there’s no doubt marijuana will continue being a hot topic for quite some time.