The Globe and Mail reports in its Tuesday edition that Canada's medical-cannabis companies
say their American counterparts
will continue to be
stifled under the upcoming
Trump presidency. The Globe's Mike Hager expects Canadian growers to scale up to
meet the domestic demand for
recreational pot while preparing
to enter the U.S. market as global
industry leaders once prohibition
there ends.
While one in five Americans
will soon live in jurisdictions that
have legalized recreational cannabis,
president-elect Donald
Trump has said he is against
changing a federal law prohibiting
the drug. That means the
growth of U.S. companies will
likely be stymied over the next
four years by a number of barriers,
including the inability to
transfer the drug across state
lines, blacklisting by risk-averse
banks and having limited access to
capital from institutional
investors.
Mr. Trump has said he is
"100 per cent" in favour of medical
marijuana. However, even if a Republican-dominated
government reclassifies cannabis, firms would
likely face years meeting a host
of strict regulatory hurdles from
the U.S. Food and Drug Administration
before they can sell it as a
medicine across the country.
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