We're finally back in the studio! This week we look forward at the various ways the US could legalize cannabis

1) Why You Should Care about US Legalization

- US is the crown jewel of the international market

- Over $12B USD in state-legal sales in 2019 (vs $1.2B CAD for Canada)

- Huge capital available once NASDAQ & NYSE listings are available

- US has higher prices, limited licenses and far less government regulation for cannabis

2)  How will US Legalization Go Down?

- Likely to be a phased approached as opposed to one big legalization

Several possibilities for how it can be done:

a) Decriminalization

b) De-scheduling or Re-scheduling (may come under FDA regulation)

c) SAFE Act - access to banking and lending

d) STATES Act - allows state law to be compliant with federal law

e) Full Legalization - federally mandates legalization across entire country

3) What is the Biden Plan? Will it actually happen?

- Biden Plan is a marketing document designed to excite the base

- We need to see Biden mention the plan or champion it before believing it

- Biden Plan involves medical legalization + STATES Act

4) How Will Legalization Change the Industry?

- Effect on industry will depend on the type of legalization

- SAFE vs STATES vs Full Federal Legalization

- Being on US Exchanges will be the biggest catalyst

5) Will cannabis be allowed to cross state lines?

6) How to Invest around Legalization