Last year, the cannabis industry gained validation like never before. For the first time ever, an industrialized country legalized recreational marijuana, with Canada ending nine decades of prohibition and lifting the curtain on what should be billions of dollars in added annual sales by the early part of the next decade.
It also was a year of advancement in the U.S., with the Food and Drug Administration (FDA) approving the first cannabis-derived drug, a number of states giving the green light to marijuana in some capacity, and President Trump signing the Farm Bill into law. The Farm Bill legalized hemp and hemp-based cannabidiol oil.
Cannabis is stuck in neutral in the U.S.
But in spite of all this, the marijuana industry in the U.S. remains stuck in neutral. Cannabis is still a Schedule I drug in the U.S., meaning it’s wholly illegal, prone to abuse,