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2019 is the year the US legalizes cannabis, CEO of pot firm Acreage says
- Uncategorized
- January 25, 2019
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The United States will legalize marijuana at a federal level in 2019, according to the chief executive of a leading company in the industry.
Kevin Murphy, of U.S.-based cannabis firm Acreage Holdings, said Thursday he believes that a key bill aimed at recognizing legalization of cannabis will be passed this year.
The STATES Act, a piece of bipartisan legislation proposed by Senators Cory Gardner and Elizabeth Warren, would allow businesses like Murphy’s to operate legitimately, giving them access to bank accounts and letting them list on U.S. stock exchanges.
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“I believe 2019 is going to be the year” of weed legalization in the U.S., Murphy told CNBC’s Karen Tso at the World Economic Forum in Davos. “I believe that it’s going to take place through the STATES Act.”Buying flavor concentrates in USA
Murphy’s firm is listed on the Canadian Securities Exchange but headquartered in the U.S. The pot industry was surrounded by heightened speculative interest from investors last year, with the share prices of a number of firms in the space — Tilray being the most notable — skyrocketing.Buy concentrates online USA
A number of notable political figures have joined Acreage’s board, including former House Speaker John Boehner and ex-Canadian Prime Minister Brian Mulroney.
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Canada leading the way
Murphy said that Canada’s legalization of recreational weed last year had an “extraordinary impact” on the industry. The country has become the world’s largest market for legalized marijuana.
I believe we really do need to understand the impact that this could have on the state, on our kids, on our families,” said Bo Huhn, spokesman for the Connecticut chapter of Smart Approaches to Marijuana.
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