- Mexico’s lower house has approved the bill allowing for a regulated adult-use marijuana industry.
- The bill now moves to the Senate for approval before being sent to President Andres Manuel Lopez Obrador.
- If approved and enacted, Mexico would become the world’s largest market for legal cannabis.
Mexico’s lower house, also known as Mexico’s Chamber of Deputies, has approved the bill that would allow for regulated marijuana and hemp industries, which would make Mexico the largest market for legal cannabis on the globe.
The bill now needs Senate approval in order to move forward. If the Senate vote passes, it will be sent to President Andres Manuel Lopez Obrador to receive the final signature.
“Today we are in a historic moment,” said Simey Olvera, a lawmaker member of the governing Morena party.
“With this, the false belief that cannabis is part of Mexico’s serious public health problems is left behind.”
Back in December, Mexico postponed marijuana legalization until spring, and extended its deadline for approval until April of this year. This helped give lawmakers, and lobbyists, time to fine tune their strategy, allowing for the most effective and efficient approach to marijuana legalization.
“It’s an excellent economic, natural, ethical, and moral solution for a country in need,” Juan Sánchez Mejorada said in a statement. Mejorada serves as the chief executive of medicinal cannabis agency Ceres Soluciones.
“Doing this right could give Mexico an economic surplus.”
If the law passes the Senate and is enacted by Mexico’s president, then Mexico will belong in the conversation with Canada and Uruguay as the only three countries to legalize an industry based around adult-use recreational marijuana.
Despite the momentum that cannabis currently has in Mexico, the bill still has a few roadblocks it must get around. And if and when the bill is approved, it will take a bit of time to establish and grow the industry.