This new weed deal might indicate federal legalization is closer than we think.
On April 18, 2019, Canada-based Canopy Growth, the largest cannabis company in the world, signed a $3.4 billion agreement to acquire U.S.-based cannabis firm Acreage Holdings. The agreement states that when the U.S. finally legalizes cannabis, Canopy will assume Acreage properties and become the most powerful weed company in the U.S.
Former Speaker of the House John Boehner is on the board of directors for Acreage Holdings. He’s alluded in the past that legalization might be coming soon.
“I’ve been having more and more meetings with my friends and colleagues on the Hill about this — some of the most conservative politicians around and their views are evolving on cannabis, too, just like the American people,” he stated at the American Cannabis Summit. “I have a strong suspicion that we won’t be waiting five years to see the federal government legalize cannabis.”
Would Acreage have signed the contract with Canopy if Boehner, Acreage, and Canopy didn’t feel confident about legal weed’s prospects on the federal level? Perhaps time will tell.