Canada legalises recreational marijuana

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His government introduced legislation past year in a bid to make Canada the second country in the world to legalise cannabis, after Uruguay. This system may suit Canada's disposition, but it flies in the face of the traditions of the USA: in general, when the federal government decides it doesn't want to ban something, it does not mandate that the states or localities follow suit.

Justice Minister Jody Wilson Raybould told media on Wednesday that it was not the intent of the federal government to challenge provincial laws regarding home marijuana growth, but that the issue could wind up in the courts if an individual were to present a legal challenge.

"It's been too easy for our kids to get marijuana - and for criminals to reap the profits", Prime Minister Justin Trudeau said on social media. Like alcohol and tobacco, cannabis is not without risks, especially for those under the age of 25.

"We have witnessed today a very historic vote that ends 90 years of prohibition, that's historic".

The Canadian Marijuana Index, an aggregate measurement of all publicly listed marijuana stocks in Canada, was up 3.3% as of 10:45 a.m.

Trudeau said that though legalization will be a process and not "a single-day event", he expects that as of the date the new regime comes into force, all stakeholders will be ready to roll.

Canada just legalized marijuana nationwide. In the neighboring USA, nine states and the District of Columbia now allow for recreational marijuana use, and 30 allow for medical use.

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Advocates argued putting the limit at 21 would encourage a black market and drive youths into the hands of criminals.

mCig Inc (OTCPK:MCIG) was the second biggest gainer following the cannabis legalization in Canada; its share price rose 11% on Wednesday. Transformative social policy, I think.

So far, the United States has yet to respond to Canada's historic move to make marijuana a part of legitimate commerce.

Legal recreational sales are expected to contribute up to $4.34 billion, more than half of the total, while the illegal market may still generate at least $1 billion annually.

However there was some resistance by health experts anxious that the low age of 18 would encourage use of a substance that can have long-term consequences on still-maturing brains.

Conservative Senator Larry Smith chastised the government for "failing to educate" children about the dangers of cannabis use ahead of legalisation.

According to a column in Globe and Mail written by Andre Picard, there were more than 55,000 cannabis related charges against Canadians just in 2016 in which 76 percent were for possession of marijuana.