2018 was a huge year for the cannabis industry. Canada and California both began selling weed to citizens over the age of 21, and large companies like Constellation Brands and Altria made huge multi-billion-dollar investments in the industry. Mitch McConnell, the Senate Majority Leader, also included the legalization of hemp in the 2018 Farm Bill, legalizing every part of the cannabis plant except for THC.
However, we still have quite a way to go before cannabis is fully legalized in the United States. Business models and regulations are still changing and evolving, and market valuations are also volatile due to these shifts. If the United States did fully legalize cannabis, what might it look like?
A Reprieve from Federal Consequences
At the moment, many state marijuana laws vary quite dramatically from