Next year could bring a complete shift in how cannabis is accepted worldwide
2018 has already seen a lot of movement on the marijuana front. Canada completely legalized the drug and more states in the U.S. have joined the industry, as well. The 2018 Farm Bill is going to go a long way toward further expansion and a few industry experts weigh in on what could be in store for 2019.
Investments in cannabis picked up substantially this year and this trend is expected to continue in 2019. A number of companies are preparing to launch initial public offerings (IPO), which will open even more investment opportunities. According to Tom Zuber of the Zuber Lawler & Del Duca LLP law firm, “We see a year of increased M&A and consolidation activity ahead for the U.S. cannabis market.”
Because current federal banking laws make it difficult for marijuana businesses to access capital, many have turned to stock exchanges in Canada. This, according to Verano Holdings CEO George Archos, will more than likely continue next year, as the U.S. federal marijuana policies won’t change overnight.
Across both Canada and the U.S. the industry should expect a cannabis farming boom. Khurram Malik, CEO of Canada-based Biome Grow, foresees a farming explosion next year that will result in high-quality crops and stiff competition.
In the U.S., there are now 30 states that allow medical marijuana. They are all working to ensure consumers are protected by requiring product testing and these policies will continue to grow. With them, there will be much more data accumulated, as well as increased product consistency. As such, says PotBotics CEO David Goldstein, “the cannabis industry can now expect a new data-driven era.”