The so-called “green rush” has gained momentum since February, when the Israeli government threw its weight behind legislation allowing the export of medical marijuana.
Israel has grown a reputation as a world leader in medical marijuana research, despite the size of its market. Only 23,000 people have Health Ministry permits to purchase medical cannabis. The market is worth $15 million to $20 million at most. However, Israeli growers work together with scientific institutions in clinical trials with fewer restrictions that in other countries on research.
With medical marijuana legal in 28 U.S. states, and the drug approved for legal recreational use in Colorado, Alaska, California, Maine, Massachusetts, Nevada, Oregon and Washington, D.C., the market in the United States will reach $50 billion within the next decade. Israel’s Health and Finance ministries have assessed that international exports would generate $4 billion in revenues annually.
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