Mexico is about to legalize marijuana
In June 2017, Mexico became one of the 40-plus countries to legalize medical marijuana.
Last October, Mexico’s Supreme Court ruled, for the fifth time since 2015, that an absolute ban on recreational use of marijuana was unconstitutional.
Now the Mexican Senate looks likely to fully legalize and regulate marijuana.
The Senate leader of Mexico’s ruling party said that the lawmakers will vote on a bill to legalize marijuana for adult use by the end of the month.
“We’re thinking that we’ll bring the law out, approve it, at the end of October,” Monreal said. “That’s the schedule we have.”
That would mean that lawmakers are expecting to meet a Supreme Court deadline to end federal cannabis prohibition. Last year, the court ruled that the country’s ban on personal possession, use and cultivation of marijuana was unconstitutional and said the government must formally legalize those activities by October. Many key lawmakers have said the country should go even further by legally regulating cannabis sales and production as well.
That would make the U.S. be surrounded by nations with legalized marijuana.
Cartels cannot be happy about this trend.
illegal marijuana imported by the cartels has to compete with the legal supply of medical marijuana. Legal marijuana is fresher, there is a large variety and there is no personal risk of sustaining injuries while purchasing it. As a result, profit margins for Mexican cartels in the marijuana market have dropped drastically.
Lower profit margins reduce the incentive for Mexican cartels to engage in violence. On the one hand, the new laws reduce the benefit of using violence to protect the supply of marijuana. On the other hand, violence is costly to the cartels – recruiting, outfitting and maintaining the loyalty of soldiers is no cheap feat. Therefore, when the profits of the trade decrease, violent crime related to drug trafficking also decreases.
The biggest state to decide legalization in 2020 should be Florida.
The state of Florida requires proponents to collect valid signatures equal to 8% of the total votes cast in the state in the most recent presidential election to put a constitutional amendment on the ballot. That translates into a little over 76,000 signatures.
Regulate Florida has already gathered more than 83,000 signatures so far.
According recent polls, 65% of Florida voters support legalizing recreational pot.
Florida would instantly become one of the largest markets for marijuana.