The Globe and Mail reports in its Tuesday, July 16, edition that Cowen's Jaret Seiberg says Canada is considered a political pioneer in the weed sector. The Globe's Andrew Willis writes that the Washington-based financial services policy analyst says problems in Canada's nine-month-old cannabis market, including the Health Canada investigation into Canntrust, are closely followed by United States policy makers. Mr. Seiberg says, "The more problems there are north of the border, the more it complicates the issue of legalization in the U.S."
Canadian analysts are also pumping the brakes on U.S. legalization in the wake of last week's hearings at the House Judiciary Crime, Terrorism and Homeland Security subcommittee. Echelon Wealth Partners analyst Matthew Pallotta said Friday in a report: "Serious questions remain on how to best pursue reform, and whether there is sufficient support in the Republican-controlled Senate to advance cannabis policy."
While U.S. federal restrictions on recreational pot are expected to remain in place for the foreseeable future, analysts expect more states to legalize marijuana, if only for the potential tax revenue.
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