Medical marijuana has been legal in California for over 20 years. Now, the state is joining 5 other U.S. states to introduce the sale of recreational marijuana. Kris Krane, President and Co-Founder of 4Front Ventures, an investment and management firm in the cannabis industry, was with us to discuss the implications of the new law. Krane says legalization of recreational marijuana will spark a domino-effect in the rest of the country. Colorado, Washington, Oregon, Alaska and Nevada beat the Golden State to it, but Krane says California's decision will be the most impactful due to the state's size and influence on policy. Krane believes an open and legal market will make it increasingly untenable for the rest of the country to maintain prohibition. Despite leniency on the state level, Krane still sees a hurdle on the federal level. This obstacle will make it challenging for cannabis companies to list on the major stock exchanges in the U.S., he adds. As a result, he thinks the most significant public market movement will continue to take place in Canada, where companies can access the Toronto Stock exchange and other major Canadian exchanges.

Share:
More In Business
Apple posts stronger-than-expected Q2 results
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
Load More