This European Country Just Legalized Medical Cannabis: Will Jim Belushi Jump On A New Opportunity?

Zinger Key Points
  • The Albanian Parliament has legalized cannabis for medical and industrial use on Friday.
  • Prime Minister Edi Rama conducted a national survey earlier this year that showed 61% of respondents were in favor of the policy change.
  • The actor and musician Jim Belushi may be among the first to jump on the new business opportunity.

The Albanian Parliament has legalized cannabis for medical and industrial use on Friday, reported ABC News.

The move represents a remarkable turnaround for a nation that was once notorious for being a hotspot of cannabis trafficking in Europe. It also coincides with the new law in Luxembourg that permits adults to possess and grow limited amounts of marijuana for personal use taking effect.

In a 69-23 vote, the country's lawmakers gave the green light to limited and controlled growth of cannabis plants. Albania's cabinet endorsed a draft law a month ago.

The legislation, backed by the Council of Ministers, aims to establish an agency to regulate the cultivation, production, processing and export of cannabis and its derivatives.

The Albanian government initially proposed the first draft of the law in July 2022, only to present the second draft later that year.

Prime Minister Edi Rama conducted a national survey earlier this year that showed 61% of respondents were in favor of legalizing cannabis for medical and industrial use.

Interestingly, Rama's left-wing Socialist Party government is known for having destroyed millions of cannabis plants worth 7 billion euros ($8.5 billion) in the years following its victory in the parliamentary election of 2013.

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Jim Belushi Eyes New Opportunities

The actor and musician Jim Belushi may be among the first to jump on the new business opportunity, as he has already visited Albania in his quest to find new markets to distribute his cannabis brand.

"According to Jim" star first ventured into the cannabis industry in 2015 when he started farming a 48-plant crop in Southern Oregon. Today, Belushi's Farm has grown to a massive cannabis empire featured in Discovery's hit series "Growing Belushi."

The season finale of the documentary aired earlier this year. Besides Belushi and his team of farmers who work to turn Belushi's Farm into a national cannabis brand with the ultimate goal of global expansion, the show also featured Rama. The Prime Minister talked about preparing legislation to legalize medical cannabis in Albania.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Courtesy of M.KOS and MVelishchuk on Shutterstock

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