Regarding oral administration of THC, it should be noted that due to substantial gastric degradation of the compound and high first pass metabolism, the severity and onset of adverse effects might be reduced and delayed. Typically, psychoactive effects begins 30 minutes to 3 hours after oral digestion. Impaired memory, hallucination, delusions and psychosis are common reactions to THC use.
Concerning anti-cancer properties of THC, it is of great importance to note that although original researches support the anti-cancer ability of THC, these anticancer effects appears to be dependent on cancer type and drug dose. Moreover, Marijuana and its components have previously been proposed for various medicinal purposes, such as chronic severe pain, refractory nausea and vomiting, anorexia and cachexia, glaucoma, and seizures yet, none have been proven to possess superior efficacy than other currently available medications.
No controlled studies show the efficacy of inhaled marijuana as an adjunct therapy to traditional pain medications for patients suffering from cancer-related pain. Although inhaled, buccal, or ingested marijuana has shown some efficacy for nausea and vomiting or glaucoma, current guidelines do not support its use.
From regulatory view, I think THC has a long way to find its place within common therapies.