By Reuters/The Guardian. Companies cashing in on legal cannabis are considering a bet on Mexico after a supreme court decision raised hopes for a legalisation of medical and recreational marijuana in a country reeling from years of drug violence.
From medical marijuana growers to pot private equity firms, many weed entrepreneurs see Mexico as a tempting new business opportunity even though cannabis is still illegal and the market is currently controlled by ruthless drug cartels.
“Me personally, I’m not afraid to go to Mexico,” said Daniel Sparks, head of government affairs at BioTrackTHC, a US-based provider of marijuana supply-chain software.
He said that just as mafia groups and bootleggers gave up on illicit moonshine after Prohibition ended in the US, Mexico’s drug gangs would have little interest in a legal marijuana market, especially if it lured in reputable pharmaceutical and tech firms.