As the legalization of marijuana continues to spread across the United States, investment opportunities in the Cannabis industry are increasing. This week, several major progressions and developments in the industry made headlines, giving investors and advocates more hope for the future.
Firstly, Curaleaf Holdings Inc. achieved a major milestone, becoming the first cannabis company to receive a listing on the Toronto Stock Exchange. The company’s shares began trading on the TSX Venture Exchange and the exchange, earlier in October. Curaleaf is the largest cannabis retailer in America with 96 dispensaries across 19 different states. This listing is seen as a major step forward in recognizing the marijuana industry as a more legitimate investment.
In addition to the progress made by Curaleaf, a handful of states have also made progress in their approach to cannabis policy. North Dakota has opted to implement recreational-use cannabis, making them the 13th state to do so. Unsurprisingly, the legislation has been met with opposition from the governor and some of the state’s top legislators .In Montana too, Governor Steve Bullock signalled his support for House Bill 701, which took effect in late August in allow dispensaries to open in the state.
Finally, another major development this week was the re-implementation of the Medical Marijuana Regulatory Act. This act was first introduced in California more than twenty years ago now and it’s reintroduced in mid-August with an opt-in program that allows the state’s local governments to regulate dispensaries within their jurisdictions. The act allows the state government to regulate quality and safety standards, controlling the growth, manufacture, and delivery of marijuana.
Overall, there is much to be positive about in the marijuana industry, of which Curaleaf’s listing on the TSX Venture Exchange is one of the best examples. As more states begin to implement recreational-use marijuana and pragmatic regulations regarding the production and delivery of marijuana, the industry is likely to see more investment opportunities in the years to come.