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Canada just became the 2nd country in the world to legalize marijuana

[excerpted] Canada just became the second country in the world to legalize marijuana nationwide.

Legal sales are set to begin October 17
.

The bill passed Canada's Senate 52-29 on Tuesday evening.

Marijuana stocks surged on the news on Wednesday morning.

Canada is the second country in the world to legalize marijuana, paving the way for recreational sales throughout the country.

Bill C-45, known as the Cannabis Act, legalizes marijuana but leaves it up to each province to decide how to sell it. Some provinces, like Ontario, are planning on provincially run outlets, while others, like Alberta, will open up marijuana retail to the private sector.

The federal government set a minimum age of 18 to purchase marijuana, though some provinces have indicated they will raise the age to 19, mirroring liquor-purchase laws.

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