With a new Congress and a new president, an adult use bill is advancing that could flip the switch by June if not sooner.
The industry will be seen as a player in the economy—and likely legalized—after President-elect Gustavo Petro takes office on August 7.
President Iván Duque issued a decree to lift a ban on cannabis flower exports, five years after medical cannabis became legal, and the industry sees opportunity.
Supporters of the bill argued that cannabis regulation is an alternative to the failed war on drugs, while opponents focused on the potential negative health effects.
Lawmakers in hard-hit Colombia, Mexico, and Paraguay see big benefits if leaders don’t tarry.
Many small farmers here would like to grow cannabis legally, but a rigid bureaucracy and stiff financial requirements are fencing them out.
Adults can currently possess up to 20 grams of cannabis for personal use, but they have no legal means to obtain it. A new bill seeks to fix that discrepancy.
Amid mounting licensing delays, the government aims to make the country more business-friendly, while maintaining its resolve not to become a mere source for raw material, and to protect smaller cultivators.
The nation has seen an influx of investment from Canadian cannabis companies, set in motion by its previous president. Will a new administration keep the momentum?