The stakes of cannabis legalization5 reading minutes

Last week, the Federal Council submitted its bill on pilot trials for the recreational use of cannabis. consumption of cannabis. The aim? To study alternative models for regulating this substance currently permitted within a highly restrictive framework. Alain Berset emphasizes the importance of more effective legislation to protect the consumer protection. However, the Federal Councillor does not mention the financial stakes behind this substance, which could well be the green gold of the 21st century.^th century.

It is now forbidden to conduct scientific studies on cannabis in areas other than its medical use. In May 2017, the University of Berne was refused exceptional permission to supply hashish to adult consumers for recreational purposes. The study was to look at the social and individual consequences of legal, controlled access to cannabis. The Federal Council now wants to remedy this impasse and allow other regulatory models to be studied.

Sterile legislation

The executive points to the ineffectiveness of current legislation. Cannabis is the most widely consumed illegal substance in Switzerland. According to the Federal Administration, one-third of people over the age of 15 have already used cannabis, and 200,000 people use it regularly.

This ineffective regulation has many disadvantages. It leads to costly but ineffective repression, and to a thriving black market that gangrenes cities - which, incidentally, support the new bill. This parallel market causes major health problems, as the quality of the illegal substance remains uncontrolled. They often contain heavy metals, pollutants and other undesirable substances. Finally, prevention is virtually impossible in this opaque situation, where the consumer remains unreachable.

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These arguments are increasingly accepted by politicians and are nothing new. However, adapting the legislative framework to the recreational use of cannabis is not only necessary for philosophical, societal or political reasons. Marie-Jeanne is now backed by an economic argument.

In 2018, stocks linked to the green plant sector were more successful than gold, standard stocks or even Bitcoin. Since 2015, a index developed by Bloomberg of 54 stocks exposed to the cannabis market has tripled. According to various forecasts, the potential global market could yet reach triple by 2024. The economic stakes are colossal; the gold rush is on!

The market of the future

For the moment, the booming market is fragmented. Over the next few years, however, it is likely to consolidate, and cannabis-friendly economic clusters will emerge. This is exactly what the various countries are aiming for: to become a force to be reckoned with in this market with its gigantic potential. Adapting the legislative framework is therefore crucial for two reasons.

First of all, countries need to be able to determine effective regulatory models for recreational cannabis consumption. From taxes too high on the regulated market of cannabis, for example, have led to an upsurge in black-market trade in some US states. Studies must be carried out to reconcile economic potential with public health protection. This is the aim of the Federal Council's proposal.

In the medium term, these adaptations should help to attract companies active in the cannabis sector in Switzerland. This is the issue that the Federal Council fails to address. In Switzerland, there are currently dozens of companies in this highly innovative sector. innovative sector. Israel is a direct competitor for exports to Europe the Knesset's support for a law allowing the export of cannabis. cannabis.

But other economies whose interest in cannabis was previously interest in cannabis is coming out of the woodwork. China, for example, has the world's largest area of hemp fields in the world. And the number of patents filed for medical exponentially in the Middle Kingdom. According to experts, the growth potential of the cannabis sector is greatest countries, which offer a framework conducive to innovation and liberal liberal legislation. A regulated market would enable companies to better consumer behavior, adapt their offer and develop their products. and develop their products.