Global Ganja Report

Two bills to legalize "recreational" cannabis have been introduced in Portugal—a country that already has a thriving medical marijuana industry, and a "depenalization" policy for personal possession that has been hailed as a success by reform advocates across the world.

A Chinese delegation to Israel to explore cooperation in the cannabis sector points to the East Asian giant's growing footprint in the global industry. But in a continued contradiction, the People's Republic has possibly the harshest drug laws on Earth—and, where unsanctioned use by the commoners is concerned, cannabis is no exception.

In a strange irony, Vancouver is shutting down its long-tolerated but unlicensed cannabis dispensaries, pursuant to a British Columbia high court decision upholding its right to do so—even as the province struggles to meet demand amid a dearth of licensed retail outlets.

In Episode 24 of the CounterVortex podcast, Bill Weinberg notes the historic strides toward liberation of the cannabis plant in 2018, from the fabled four corners of the Earth. Yet under capitalism, every advance also opens new contradictions.

With passage of the Farm Bill and removal of hemp-derived CBD from controlled substance status, big market growth is expected for the very chic and purportedly salubrious non-psychoactive cannabinoid. The law is a win for a nascent CBD industry that has been struggling to shake off the lingering stigma surrounding (psychoactive) cannabis. The effort to segment cannabidiol from "marijuana" is exemplified in the several states that now have "CBD-only" laws.

From the "Tulip Mania" in 15th century Holland to the Bitcoin bubble of 2017, high hopes for a commodity's market performance can lead to unsustainable overvaluation inevitably followed by a painful correction. Many observers believe that cannabis fell prey to this phenomenon in 2018—but are hoping for growth in a more rational and realistic market in the coming year.

The newly enacted Farm Bill contains language implicitly removing hemp-derived CBD from the controlled substances list, along with industrial hemp. A CBD industry that has been growing fast in a legal grey zone stands to grow faster in the light of legal clarity. Conflicting state laws and even federal regulations, however, could prove an obstacle to unfettered expansion.

When the United Kingdom announced the historic step of rescheduling cannabis and allowing physicians to prescribe it two months ago, there was concern from patients and advocates as to whether actual herbaceous flower would be allowed, or only extracts. Now the first patient is approved to receive cannabis under the program, and it is indeed to be dried flower. The bad news: with the National Health Service barred by bureaucratic hurdles from providing it, patients are at the mercy of the market—and the price is prohibitive.