While it seems like there's no end to the debate about the legalized use of cannabis, even health experts can no longer deny that marijuana lets individuals enjoy certain medical benefits. Several studies have proven that cannabis is a preventative medicine that can reduce the likelihood of developing Alzheimer's, arthritis, cancer, and certain neurodegenerative diseases.

There are studies that have also gathered proof that cannabis is a viable treatment for chronic pain and seizures. Others even believe that the regular use of cannabis oil can help treat cancer. (Related: Cannabis innovators set out to map the marijuana genome: new information could prevent the sale of falsely advertised bud.)

Pharmaceutical companies are also taking advantage of the benefits of the drug by funding the development of cannabinoid-based medicines. These drugs often contain cannabidiol (CBD) and tetrahydrocannabinol (THC), the two cannabinoids that are responsible for the medicinal properties of the plant.