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How 2020 changed the cannabis industry

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Regulations around the world

In the UK, a consultation period was launched on 23 October to develop a world-leading export-based cannabis sector from the Isle of Man.

The production and exportation of cannabis-derived products could be legalised on the British Island – with the first crops planted as soon as 2021 – after a vote in Parliament at the end of 2020.

Meanwhile, following the US election, the CBD industry benefited from the result as, in five different states, ballot initiatives to legalise medical and/or recreational cannabis were passed. Those in the sector described it as an ‘exciting time’, with medical cannabis beginning to go mainstream.

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