Canopy Growth, the Canadian giant in the cannabis market, is expecting to enter the U.S. markets “within a year,” says David Klein, CEO of Canopy Growth, according to an article posted on BNN Bloomberg.
After the Georgia runoff election brought Senate control over to the Democrats, Klein believes cannabis decriminalization is imminent. This would allow Canopy Growth to enter the U.S. cannabis market.
“What we really need is some combination of SAFE Banking, a revised Cole memorandum, and a reclassification by the executive branch, all of which … probably happens in the next six to eight months anyway,” Klein says. “We’re pretty confident we’ll be operating in the U.S. a year from now.”
The SAFE Banking Act
The SAFE Banking Act would allow federal banks to conduct business with the cannabis industry. It is expected to be reintroduced to the House later this year.
The Cole Memorandum
The Cole memorandum, a document written by Deputy Attorney General James M. Cole, said that “the Justice Department would not enforce federal prohibition in states that ‘legalized marijuana in some form.’”
To read more, check out BNN Bloomberg’s full article.
Canadian Cannabis Company Expects to Enter U.S. Market Within the Next Year