Cannabis is coming — what are the implications for the U.S. consumer products markets?

As of today, every province in Canada and eight U.S. states have legalized cannabis for both medical and recreational use.  Other U.S. states are expected to follow suit in the short-term, seeing value in its therapeutic effects as well as tax revenues from the legal sale of such products.  In fact, New Jersey’s Governor Phil Murphy announced he may sign a bill to legalize cannabis use by the end of October if state lawmakers can agree on an acceptable tax rate, ranging anywhere from 10% to 25%.  The Trump administration announced last week that it intends to pursue legislation lifting the federal ban on cannabis after the mid-term election on November 6, 2018 and some predict this could happen as soon as Spring 2019.Continue reading