A wide majority of people in the USA and Canada support uses of medical marijuana AT LEAST for compassionate reasons. Recent polls show a majority of Americans support the legalization of marijuana. Popular medical marijuana stocks are a reflection of the growing support and demand for more medical marijuana facts.
In Canada, the use of marijuana (marihuana for you Canadians!) for medical use has been legal under Federal legislation since 2001. Health Canada established regulations permitting access to cannabis for medical purposes, and the number of persons utilizing that program has skyrocketed over the years. There were 477 medical marijuana patients approved by Health Canada in 2002, and 37,359 in 2013. Health Canada projects up to 58,000 approved patients in 2014 and as many as 450,000 in 2024.
In Canada, as of April 1, 2014, the only legal access to marijuana for medical purposes will be through licensed producers under the Marihuana for Medical Purposes Regulations (MMPR).
In the USA 20 states and the District of Columbia have some form of marijuana legislation. In almost all cases, this is limited to use for qualifying medical conditions, which vary from state to state. Washington and Colorado also allow for all adults 21 years and older to purchase and consume cannabis for Adult Use or recreational use.
The US national legal market is estimated at $2.34 billion for 2014, and projected at $10.2 billion within five years. The current illicit market for marijuana is not known with certainty but estimated to be as high as $30 billion in 2014. For comparison, the US wine industry had estimated sales of $34.6 billion in 2012.
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