Curaleaf CEO (CURLF) says a blue wave will trigger legalization ‘very quickly’
In an interview with Yahoo Finance, Curaleaf CEO Joe Lusardi commented on how the November elections will be pivotal in determining the cannabis industry’s timeline. However, its less the cannabis policies of the presidential nominees, and more where control of the Senate falls.
Lusardi went on to say, “If the Democrats take the Senate or the White House, I think you’ll see sweeping cannabis reform very quickly,” he said. “It’s not a partisan issue — for sure, we have support on both sides of the aisle — but I do think the Democratic leadership has shown a desire to pass cannabis legislation where the Republican leadership has not.”
Even with a blue wave and a Biden win, it remains to be seen just how comprehensive cannabis reforms will be at a federal level. Just yesterday, the Democratic National Committee’s platform committee rejected an amendment to support marijuana legalization as an official 2020 policy. Earlier in July, the Biden-Sanders task force fell short of recommending federal marijuana legalization, and it is well known that Biden himself remains disinclined towards federal legalization as well.
Canopy Growth (CGC) launches an e-commerce platform
On Monday, Canopy Growth announced the launch of its new U.S. e-commerce platform shopcanopy.com. Their online story will carry Canopy’s growing portfolio of U.S. hemp-derived CBD product lines with over 25 product SKUs. The site will continue to feature new brands from Canopy Growth, including the highly anticipated launch of Martha Stewart CBD.
Connecticut opens its 18th and final medical cannabis dispensary
According to The Day of New London, CT, the state’s 18th and final medical dispensary, Herbology, opened late last week. The Groton, CT facility is Grassroot’s first dispensary in the state. The Marijuana Business Factbook projects that medical marijuana sales in Connecticut will approach $130 million to $160 million this year, compared with $100 million-$125 million in 2019.
