Man Who Called Nvidia at $1.10 Says Buy This Now...

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Brazil's Supreme Court Decriminalizes Cannabis Possession For Personal Use

Patricio Liddle
June 25, 2024

In a landmark ruling late Tuesday, Brazil's Supreme Court voted to decriminalize the possession of cannabis for personal use, marking a significant shift in the nation’s drug policy. This decision, which addresses the application of Article 28 of the Drug Law from 2006, aims to differentiate personal use from trafficking and could significantly reduce Brazil’s prison overpopulation.

Supreme Court Concludes Longstanding Decriminalization Debate

The court’s decision concludes a debate that began in 2015 and reflected growing public awareness of the failures of existing drug policies. A majority of the 11-member court supported the move, which does not yet specify the maximum allowable quantity for personal possession or the effective date of the new rule. The Associated Press reported that a resolution is expected as soon as Wednesday.

While selling cannabis will remain illegal, the move is seen as a crucial step toward easing the burden on the judicial and prison systems. Ilona Szabó, president of the Igarapé Institute, emphasized to AP the significance of this reform. "The majority of pre-trial detainees and those convicted of drug trafficking in Brazil are first-time offenders, who carried small amounts of illicit substance with them, caught in routine police operations, unarmed and with no evidence of any relationship with organized crime."

Growing Public Support Fuels Brazil's Cannabis Reform

Moreover, the deliberations sparked substantial public support for reform, evidenced by recent massive demonstrations in São Paulo's 15th Cannabis March. Advocates for decriminalization argue that the current laws disproportionately affect marginalized communities and fail to address the social and racial injustices perpetuated by these drug policies.

Judicial Moves Vs. Legislative Challenges

In 2023, a Brazilian appeals court addressed the potential for home cultivation of cannabis, considering its legalization for medical and industrial purposes. However, these judicial decisions could face challenges from legislative actions. AP notes a recent constitutional amendment proposed in the Senate seeks to criminalize possession of any illicit substance, which could override the Supreme Court's ruling if passed.

Expectation Over Ruling Details

Legal experts and activists continue to emphasize the need for clear regulations to prevent arbitrary enforcement. Although figures are subject to the imminent judicial decision, proposed quantities for personal use include up to 60 grams of cannabis or six female plants.

This ruling could align Brazil more closely with other Latin American countries which have taken steps toward liberalizing drug laws. As the nation awaits final guidelines from the Supreme Court, the decision may influence future legislation and public opinion in the region’s most populated country, home to nearly 218 million people.


Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.

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