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The Economic Implications Behind the Cannabis Legalization Debate

After decades of prohibition, some countries are starting to consider legalizing cannabis as a way to tackle the increase in consumption and take benefits from it. The fact is that cannabis is the most used illegal drug in the world, so looking the other way or introducing ambiguous or restrictive regulations is not going to solve the problem. Some Governments across the globe have taken action by regulating the cultivation and consumption of cannabis; this is the case, for example, of some states in the U.S. and Canada. Now the focus is set on Europe, where the regulation of cannabis for medical use is being discussed in the European Parliament and some Member States have a whole new debate on the economic benefits that legalizing cannabis may bring.

Earlier this month, the ETFGI Consultancy Firm revealed that the world’s first cannabis exchange-traded fund is on its way to becoming the second most profitable exchange-traded fund (ETF) in Canada after offering 50-percent return so far this year. In October 2018, Canada became the second country in the world, after Uruguay, and the first country within the G20 to legalize the recreational use of marijuana. A few months later, the Horizons Marijuana Life Sciences Index fund has grown to €1.15 billion ($1.3 billion) becoming the 18th largest Canadian ETF, according to ETFGI.

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