Big things are happening with our neighbor to the north
Big things are happening with our neighbor to the north. On June 19, after Bill C-45 (officially, the Cannabis Act) bounced back and forth between both houses of Canada’s Parliament, the Senate approved the Cannabis Act, sending it to royal assent. Shortly thereafter, Prime Minister Justin Trudeau, who’d championed the idea of legalizing adult-use cannabis for years, announced that Oct. 17, 2018, would represent the official waving of the green flag for recreational marijuana in Canada.
Aside from the fact that Canada is set to become the first industrialized country in the world to have legalized recreational weed, it’s also on track to add in the neighborhood of $5 billion annually to this rapidly growing industry. Going from a few hundred million dollars in annual sales to billions each year is what’s coerced investors to pile into pot stocks.
Looking into the Canadian cannabis crystal ball
But, truth be told, there’s a lot we still don’t know about Canada’s legal cannabis industry. Namely, because no industrialized country has ever legalized recreational marijuana before, there’s no precedent to look back on with regard to demand, supply, or other industry intangibles. However, unknowns aren’t going to stop me from making prognostications about the Canadian cannabis industry. While I can’t guarantee they’ll come true, here are four reasonable predictions for legalization in Canada.
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