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Cannabis Legalization Passes the Senate!

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The Senate has given the green light to the Cannabis Act, with 56 voting in favour of the bill and only 30 against it. The bill is now ready to move forward and legalization is now in sight. The last major hurdle is complete as the Senate results came in shortly after 9pm EST.

It’s a big day for cannabis as the last big hurdle toward legalization is through. All that’s left is going through the modifications and deciding on the wording between the House and the Senate, and cannabis will become passed into law. It’s a day that cannabis investors have long waited for and in two to three months we could see provinces opening their doors to the recreational sales of marijuana.

It remains to be seen how much longer it’ll take for the judicial process to finalize the bill but we are talking details at this point as the hard part is effectively complete. Cannabis companies are likely going to be celebrating the result today as it is a big movement in a very important process.

What’s next?

Next up, the bill goes back to the House of Commons where the modifications made in the Senate will be reviewed. Once the wording is completed, it will received Royal Asset, typically from the governor general.

Will this set the stage for other countries to follow suit?

It’s been a long journey to get here, effectively since Justin Trudeau was selected, but the job is almost complete, and marijuana is gaining attention around the world.

Countries around the world have started opening up to marijuana and with Canada passing pot, it could open the doors for more countries to follow in its path. One that will undoubtedly be monitoring the situation is the U.S., where individual states have legalized pot but federally it still remains a prohibited Schedule I substance.