There is a global market poised for a spectacular high, and not too many people are talking about it. It is cannabis—yes, that gentle flowering plant that has given us hashish, ganja, bhang, and perhaps the soma that our ancient gods used to imbibe. People are not just smoking it—they’re mixing it with the choicest of wines and even rubbing it into their skin.
The legal marijuana market is currently worth $7.7 billion globally, and is expected to hit $31.4 billion by 2021, the Brightfield Group, a US-based cannabis market research firm estimates. European investment bank Bryan, Garnier Co. sees it growing to $140 billion by 2027. In the first six weeks of 2018, cannabis-related businesses raised $1.4 billion in capital, a nearly-six-times increase over the same period last year.
Grass, getting greener
On 19 June, the Canadian Parliament passed a law legalizing the drug, by 52 votes to