2018 will bring about the largest social change we’ve seen in the last century. From prohibition to profit, California and the entire country of Canada lead the charge in marijuana legalization.
New years day brings about joy and excitement for cannabis users across California. With lines out the door at dispensaries, California will be making serious tax dollars with their decision to legalize recreational cannabis.
But they aren’t the only location making waves. If you haven’t heard yet, the entire country of Canada will be fully legalizing recreational marijuana come summer 2018. The government will allow each household to grow up to 6 plants, while provincial governments will handle the distribution and taxing of the product.
The expansion of this industry has caused Canadian weed share prices to soar. In addition, estimates of canadian marijuana use toppled 6.2 billion dollars. With many wondering the about impact economically, a budding marijuana tourism industry has started to form. In fact, businesses and governments are preparing for an influx of tourists looking to indulge on Canadian bud come marijuana legalization.
Canadian Marijuana Companies are Serious Players in Global Game
With millions of dollars flowing through Canadian stock exchanges, Canadian marijuana companies are becoming savvier. Usually, a little brother to U.S. economic boom, Canada is now leading the charge in the global marijuana movement. Canadian companies once legalized, do not have to worry about looming federal law and rogue health-ministers crusading against their cause. Kris Krane, president and co-founder of cannabis operations and consulting firm 4front ventures agrees, he says,
“These Canadian companies have access to money that no one in the U.S. has, and they’re going to kill us. We’re ceding the future of the industry to Canada. They’re going to buy everybody.”
However not every investor is intimidated by Canada. Evan Eneman, the managing director of Snoop Dogg’s weed-focused venture capital fund, says despite the Canadian headstart the U.S. will still dominate.
“Once the U.S. opens up, well, Canadians are nice people, but the U.S. will still dominate. The top line revenue of a licensed producer in Canada is probably still smaller than a single retail location in Los Angeles.”
As 2018 moves forward, we will certainly have more data to answer these questions.
Who do you think will be the global leader in marijuana come 2019?