THE ALLIANCE FOR SENSIBLE MARKETS PRESENTS A CONVERSATION ABOUT INTERSTATE COMMERCE: A PRESCRIPTION TO SAVE THE CANNABIS INDUSTRY.
CANNABIS INTERSTATE COMMERCE WEBCAST:
|
Sponsored by Hedgeye and Oregon Sources
We are at a pivotal point in the history of the cannabis market, with thousands of small farms and businesses that have failed or are on the verge of failure. In addition, millions of legal patients and consumers remain stuck in illicit markets due to high prices and poor selection/quality in many state markets. The largest Cannabis ETF is down 90% from its peak in February 2021 as the industry has collapsed on an inefficient system of failed state-siloed markets leading to significant excess legal cultivation capacity.
The status quo is not a path forward for current cannabis investors or industry participants willing to acknowledge that the industry is broken. Not to mention that the current structure of state-soiled markets will disappear with the inevitable federal legalization. Why are we continuing to misalign incentives in cultivation that will soon be non-competitive? The cannabis industry has raised over $20 billion in debt and equity since 2018; the 15 largest publicly traded only have a market value of $11 billion. The industry has lost billions of dollars, and more will be lost if there is no significant reshaping of the industry fundamentals.
From a legal perspective, we are on the cusp of the single most important and least recognized shift in the economics of legal cannabis since WA and CO were first legalized in 2012. Our conversation about the potential for Interstate Commerce will be the first-ever public forum in which state officials from producer and consumer markets discuss interstate commerce (in advance of fed legalization) in real, informed terms, including its pathway, likelihood, and its desirability.
The panel of guests will include the following:
The Moderator will be Marc Hauser, formally of Smith Reed, LLP, where he was a partner and head of their cannabis division and now runs Hauser Advisors
Adam Smith, founder of the Alliance for Sensible Markets. The Oregon interstate commerce law author is the leading advocate of opening state-regulated interstate markets.
Matthew Lee, General Counsel for California's Department of Cannabis Control, wrote the 8-page memo that Governor Newsom sent to CA AG Rob Bonta on January 30th.
Rafi Crockett - Commissioner at the Washington DC Alcoholic Beverage (and cannabis) Regulation Administration and a board member of the Cannabis Regulators of Color Coalition.
