Boxing legend Mike Tyson is developing his own marijuana holiday resort, the Tyson Ranch near Desert Hot Spring. The resort will include a music festival venue, a luxury hotel, the world’s longest lazy river, Tyson University and glamping tents.
But why did we touch upon this at the very onset? The cannabis industry is flourishing across the globe as the medicinal and recreational varieties of cannabis continue to attract consumers. The industry has put the pedal to the metal in Australia with the number of patients approved for medicinal cannabis prescriptions rising rapidly. The number of doctors and specialists prescribing Cannabis has been growing, which calls for rapid cultivation by farmers. The industry will also help boost the job market in Australia.
About cannabis legalization
In Australia, the cannabis cultivation for medicinal and related scientific purposes bagged the approval under the Narcotic Drugs Amendment Act in 2016. The Act enabled cannabis producers to apply for a license to legally grow cannabis for medicinal use in Australia. However, the overseas export of cannabis products for medical use was legalized by the Australian government in January 2018. The cannabis is legalised in Australia at the Federal level, but the legalisation for personal use is still on hold. It is expected that the legalisation of cannabis would eliminate the cannabis black market that is earning a multi-billion dollar per year.
Cannabis approval in Australia
The cannabis approvals have been rising in Australia since legalisation. The body that regulates the therapeutic goods in Australia, the Therapeutic Goods Administration (TGA) recently released data on the number of new medical cannabis approvals held since June 2018 in Australia. The data indicated that since the Federal Government legalized the cannabis for medicinal use, over 7700 approvals have been made till May 2019
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