Friends, if you’ve been following these Cannabis Musings, you may have noticed that I tend to drift back to the same handful of topics. Sure, you may think, er molt gemolen mel (loosely - oy vey, he’s rehashing things), but some points are worth making twice (or more). Particularly when it turns out that I was right.
Remember a few weeks ago when I said in my (revised) 2021 predictions: “stakeholders (not just cannabis companies) will quickly begin the lobbying push for full legalization”? (link) Well, the Coalition for Cannabis Policy, Education, and Regulation just formed (and also respects the Oxford comma). (link; link) Seemingly made up of major alcohol and tobacco companies, prominent trade groups, and members of think tanks, the group professes to “work to develop policy and build a national conversation on the federal regulation of cannabis.” This is in stark contrast to the US Cannabis Council, a recently-formed legalization policy group made up of Cannabis industry participants. (link)
On the same note, BAT (British-American Tobacco) just announced a 19.9% stake in Organigram Holdings Inc., a Canadian LP, for a C$221 million investment. (link) Granted, it’s not the stake in a US operator that I predicted back in January (link) (although I still have 9½ months left (see also (link)), but it’s a significant investment by a multinational tobacco company into the global cannabis industry at a time when US legalization is looking like a real possibility and Mexico just legalized adult-use (perhaps someday we’ll see a NAFTA for cannabis?). (link)
It seems to me we are at the very beginning of what is going to be a long game of multi-dimensional chess, with everyone fighting over the pieces. I’ll bring the popcorn.