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Growing Support For Legal Cannabis In US Spurs Development, Creates Hope For New Chronic Pain Therapies
Monday 21 November 2016
Growing Support for Legal Cannabis in US Spurs Development, Creates Hope for New Chronic Pain Therapies
Along with electing Donald J. Trump as the United States’ 45th president in the Nov. 8 election, the legal cannabis industry scored landmark victories in concurrent ballot measures in several states, raising hope for those who support developing new cannabis-based therapies for unmet medical needs, especially in the management of chronic pain.
Use of recreational cannabis is now legal in California, creating the nation’s largest market for legalized pot, as well as in Nevada and Massachusetts. With recreational marijuana use already legal in Colorado, Washington State, Alaska, Oregon and Nevada, and medical cannabis legalized in 20 more states and the District of Columbia, some 20% of Americans can legally use recreational cannabis. According to a FinancialBuzz.com press release, citing poll data indicating that about 60% of Americans now support cannabis legalization, nearly doubling the corresponding metric of 31% in 2000.
FinancialBuzz.com projects markets for both recreational and medicinal cannabis to grow to $22 billion by 2020, with November’s election results potentially influencing other states to consider reforming their laws prohibiting cannabis, and may even help persuade the federal government to lift its ban.
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