Many cannabis companies are eagerly awaiting the day when pot is legalized in Canada and are expecting that demand will send their sales skyrocketing soon afterward. The allure of getting into an industry with minimal barriers where just about anyone can start up a company and grow has resulted in many cannabis companies competing for a piece of the pie.
When Canadians are able to buy legal recreational marijuana sometime this year, we are going to start generating a lot of consumer data. Some of it will be clearly linked to individuals: credit card purchases at physical stores and online ordering to home addresses, for example.
U.S. President Donald Trump endorsed letting states decide how to regulate marijuana, in a major boost for the legal pot industry, Colorado Republican Senator Cory Gardner said. Pot stocks Friday surged on the news.
Malta is the newest name added the growing list of countries joining the global cannabis revolution. Yesterday, the Maltese parliament announced amendments to the 2015 Drug Dependence Act passed after its third and final reading.
The Canadian government will be in a better position to push for the U.S. not to ban entry to Canadian citizens who admit to smoking cannabis when questioned by border guards after recreational consumption becomes legal in Canada, according to an immigration lawyer. But in the meantime, he said Canadians undergoing preclearance at Canadian airports will be in a “weaker position” than those driving to the states because they can be compelled to answer questions at preclearance, and can’t just turn around and go home.
The federal government is not planning to withdraw from three international treaties Canada will violate when it legalizes recreational marijuana this summer, according to a top foreign affairs official. Mark Gwozdecky, the assistant deputy minister of international security and political affairs at Global Affairs Canada, told a Senate committee late Wednesday that Canada will not withdraw from, seek reservations to or take “any treaty actions” regarding three UN drug conventions.
According to a research 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 by reaching a value of $63.5 billion by 2024. The market is going through a period of robust growth because of increasing legalization and decriminalization of cannabis products across North America. The state of California has legalized products for recreational use on January 1st.