"Big step today in Germany with the removal of cannabis from the narcotics list – the 2^nd G7 country to do so. Incredible that the US is still behind Canada and Germany!” Jordan wrote on X, formerly Twitter. “The opportunity in Germany is significant; Curaleaf is prepared w/ a first-mover advantage & the infrastructure to support both the anticipated huge growth in medical demand and potential for future adult use!”

Beyond immediate market reactions, industry leaders see long-term opportunities under Germany's partial cannabis legalization, known as the CanG bill, which removes marijuana from the Narcotics Act where it was listed as a banned substance.

Niklas Kouparanis, co-founder and chief executive of German cannabis company Bloomwell Group, described the vote as monumental, noting that it marks the biggest moment for the industry since the legalization of medical cannabis in March 2017.

“The passage and implementation of the CanG bill is monumental for the German people, especially with regard to decriminalizing and, ultimately, destigmatizing cannabis use,” Kouparanis told Benzinga.

“It’s also extremely impactful and beneficial for medical cannabis patients, as reclassification paves the way for more people in need to access medical cannabis as they would any Rx prescription and at more affordable price points,” he added. 

Under the law approved by the Bundestag, Germany’s parliament, starting April 1 adults will be allowed to grow and possess limited quantities of cannabis for personal consumption. 

Non-commercial cultivation clubs will be legal starting on July 1.

Get your tickets now on bzcannabis.com – Prices will increase very soon!