The B.C. government expects to rake in $200 million in revenue from cannabis sales taxes by March 2021, it revealed as part of its February 20 budget. That revenue would start to flow once the federal government legalizes adult use of cannabis – something that is expected later this year.
According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is estimated to grow at a CAGR of 21.1% between 2017 to 2024 or culminating to $63.5 billion by 2024. The research also explains that because of the complex regulatory structure at state and federal level, the full potential of the market is not yet clear. California's new recreational cannabis laws went into effect on January 1st, 2018. While California is the largest market, Canada is projected to show strong sales as well.
Landlords in Nova Scotia say one of the top concerns they’ve been hearing this year is how they plan to adapt to the legalization of pot. “They're all looking for some kind of a guarantee that they'll be living in a smoke-free environment, whether it's tobacco or cannabis,” says IPOANS policy analyst Kevin Russell.
Regulatory upheaval under the Trump administration in the U.S. cannabis industry is providing Canadian companies with the chance to be global leaders. However, disagreement between the different gatekeepers of Ontario's financial markets may squander this opportunity.
There is no shortage of enthusiasm for marijuana in the stock market, at least among people who are invested in it. The trope of the everyman investor striking gold in weed stocks is becoming commonplace.
American rapper Snoop Dogg will be talking about money and marijuana in Montreal late this year. He is one of the featured speakers at the C2 Montreal event taking place in May. The rapper and producer will be on stage to "share his ideas and expertise" in cannabis along with his Merry Jane business partner, Ted Chung.