Germany is set to hold its national elections on February 23, 2025, a pivotal event that will determine whether the Social Democratic Party (SDU) retains leadership or whether power shifts to the Christian Democratic Union (CDU).
The outcome of this election is of particular interest to the country’s emerging marijuana industry, which has seen significant legislative progress under the SDU and its governing allies. The most significant changes included reforms that greatly expanded access to medical marijuana, leading to a surge in patient numbers.
Additionally, although limited, a new recreational cannabis legislation was introduced, opening discussions about the possibility of a regulated commercial market.
These legal shifts have attracted interest from international marijuana businesses, particularly from Canada and the U.S., which are establishing a foothold in Germany in anticipation of further industry growth.
However, if the CDU secures victory, the pace of marijuana reform could slow down or be reversed. Despite this uncertainty, Germany’s marijuana market remains dynamic, with promising growth opportunities.
The most substantial growth has come from imports, with Canadian firms maintaining dominance in the market. A notable example is Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), a New York-based company. In 2022, Curaleaf acquired a majority stake in Four 20 Pharma, a German firm licensed to produce and distribute medical marijuana under stringent EU-GMP and GDP standards. This acquisition has given Curaleaf a strong presence in one of the world’s key marijuana markets.
Germany has permitted medical marijuana since 2017, though initial regulations were restrictive and kept patient numbers relatively low. A significant policy shift occurred on April 1, 2024, when cannabis was removed from the country’s narcotics list.
This change simplified the process of obtaining medical cannabis prescriptions, allowing patients to access their medication through regulated pharmacies. The new system enables individuals to consult with doctors via telehealth services, receive a prescription, and fill it at any pharmacy.
On the recreational front, the German government introduced the Cannabis Act, which permits the formation of social cannabis clubs for cultivation, though commercial sales remain prohibited. Members of these clubs can grow marijuana for personal use and share it with fellow members, but no transactions are allowed.
Each club can accommodate up to 500 members, with each individual permitted to acquire a maximum of 50 grams of marijuana in a month. However, consumption on club premises is not allowed. The act also decriminalized possession, allowing adults over 18 to carry up to 25 grams in public and store up to 50 grams at home. Additionally, individuals can cultivate up to three plants per household.
The next step for the German marijuana industry involves launching a recreational use pilot program, set to be implemented following the elections. This initiative will allow businesses and research institutions to apply for licenses to distribute cannabis for recreational use. Unlike the medical market, which remains tax-exempt, this program would generate government revenue through taxation, marking a significant shift in the country’s approach to cannabis regulation.
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