Following a period of relative regulatory stagnation and mounting financial pressure, the global cannabis industry has seen a flurry of promising developments over the past month providing hope for investors and industry stakeholders alike.
News of a potential federal rescheduling of cannabis in the US has sparked optimism that cannabis operators may soon gain access to capital and institutional investment that it so sorely needs.
This growing positive sentiment from across the Atlantic has been bolstered by a string of regulatory developments throughout Europe, painting a promising picture for the industry in the year to come.
Portugal takes major step toward adult use
This week has seen Portugal take a sharp turn towards cannabis reform, with the dominant Socialist Party announcing plans to create a working group for adult-use legalisation, and almost all parties voicing their support for regulation at a subsequent conference.
Portugal has long been a leading light in cannabis liberalisation in Europe, becoming one of the first countries to decriminalise in 2000.
It has since become a key location in European cannabis with a number of major companies investing significantly, taking advantage of its ideal growing conditions, favourable regulatory environment and proximity to other key European markets.