The cannabis, a plant with roots that dates back to thousands of years, has traveled from old rituals to modern joint rooms, evolving towards a flourishing industry. We are going to embark on an expedition that travels in time to understand how this old herb became the current cannabis market.
Ancient beginning
Cannabis has been intertwined with human culture for millennia. Archaeological evidence suggests its use from the third millennium before Christ. In ancient China, it was used for its fibers, medicinal properties and psychoactive effects. Yanghai’s tombs in China, dating from 2,700 years, revealed the tomb of a shaman buried with almost 800 grams of cannabis, indicating its importance in spiritual practices. Similarly, in India, cannabis found a mention in Atharvaveda around 2000-1400 a. C., venerated as one of the five sacred plants. It was consumed as ‘bhang’. Duration rituals, a tradition that persists in some regions today.
Transition to the west
Cannabis went to the western world through varied channels. In the nineteenth century, it attracted attention for its therapeutic potential. Irish doctor William Brooke O’Shaughnessy, after observing his medicinal use in India, introduced cannabis to Western medicine in 1842, legalizing its effectiveness to relieve pain and muscle spasms. However, at the beginning of the 20th century he saw a change in perception. Concerns about their psychoactive effects led to regulatory measures. The United States, for example, introduced Marijuana’s tax law in 1937, which criminalize cannabis and reduced the medical requests of its years.
Counterculture and resurgence
The 1960s and 70s marked a fundamental era for cannabis in the United States, the movement of the opposite culture hugged him as a symbol of rebellion and freedom. The music festivals, such as Woodstock, became emblematic or this association. Despite strict laws, the use of cannabis persisted, lay the foundations for future debates about their legality and medicinal value.
Modern industry emergency
The twentieth and early twentieth century, witnessed a rebirth in the perception of cannabis. Scientific studies were asked to discover their possible therapeutic benefits, which leads to a gradual change in public opinion. California became a Blazer of trails when legalizing medical cannabis in 1996. This movement caused a domino effect, with numerous states and countries that reevaluate its position on cannabis. The full legalization of Canada in 2018 marked a significant milestone, positioning it as a leader in the world cannabis market.
Economic impact and challenges
Today, the cannabis industry is a formidable economic force. In the United States alone, cannabis legal sales reached approximately $ 25 billion in 2024. States as New York have quickly expanded their markets, with projections close to $ 1 billion in sales by 2024. Duration of entrants, they expel the potential of the industry, with their establishment generating $ 7 million in sales in 2024.
However, the industry is not exempt from challenges. Federal legal restrictions in the United States create obstacles to financing and banking, which pushes companies to trust private lenders. These lenders, who face their own set of challenges, have become more selective, which leads to a warning capital adjustment. In addition, the proliferation of illegal cannabis stores undermines the legal market, causing income losses and complicating regulatory efforts.
Global perspective
Worldwide, the Cannabis landscape is several. Countries like Uruguay and Canada have completely legalized recreational use, establishing precedents for others. In Europe, although recreational use remains illegal, there is a growing trend towards decriminalization and medical legalization. The Netherlands, for example, have long tolerated cannabis use in ‘Coffeeshops’, combining regulation with cultural acceptance.
The way ahead
As social perceptions continue to evolve, the cannabis industry is at a crossroads. The balance of regulation, public health and economic interests will be crucial. In the investigation of its medical applications, it is promising, but it is imperative to address with caution, ensuring that the benefits are maximized while mini mini minian potential risks.
