Here's Your Cannabis News for
October 19, 2018

There has not been anything like it since the waning days of prohibition in America in the early 1930s, when Canadian distillers, already enriched by the banning of legal alcohol sales south of the border, readied themselves for the end of restrictions and a guaranteed boom. On October 17th retail cannabis sales became legal in Canada, offering its cannabis firms a certain chance to expand at home and the potential to capitalise abroad.

The world is witnessing a sea change on cannabis. On October 17, Canada legalized recreational cannabis, and on November 1, the United Kingdom will legalize medical cannabis. 

As Canada became the second country to legalise marijuana on Wednesday, some areas faced their first major challenge as supply failed to meet demand.

OTTAWA — Former prime minister Jean Chretien once joked while in office that he would be ready to smoke marijuana in retirement, but a number of politicians and political operatives have actually found a spot in the cannabis industry.

On Oct. 17, 2018, the government of Canada will launch a national, uncontrolled experiment in which the profits of cannabis producers and tax revenues are squarely pitched against the health of Canadians. When Bill C-45 comes into force in mid-October, access to recreational marijuana will be legal,1 making Canada one of a handful of countries to legalize recreational use of the drug. Given the known and unknown health hazards of cannabis,2,3 any increase in use of recreational cannabis after legalization, whether by adults or youth, should be viewed as a failure of this legislation.

The celebratory mood that marked the legalization of recreational cannabis lost a bit of its high for some consumers who found themselves with hefty fines for allegedly violating laws around pot use.

Dan Daviau, president and CEO of Canaccord Genuity, sits down with BNN Bloomberg's Greg Bonnell at the U.S. Cannabis Symposium for an exclusive conversation on what's next for cannabis in Canada now that recreational pot is legal in the country.

Some U.S. marijuana companies want a change to federal laws, after Canada legalized the drug. Kasie Hunt talks with Terra Tech CEO and Chairman Derek Peterson, who took out a full page ad in the Wall Street Journal calling on President Trump to take action.