According to Brenden Kennedy, Managing Partner of Privateer Holdings, the future of the Cannabis industry will be even more and even bigger than most currently believe. It will also help society in ways that can’t be measured in dollars but in benefits to the global community at large.
“As the pace of regulatory change continues to increase, the investment community is getting wise to the massive, global, and inevitable opportunity that is legalized and regulated cannabis. Like alcohol, cannabis is counter-cyclical and immune to macroeconomic trends. At the same time, it has high barriers to entry, no engineering or market acceptance risk, and proven demand. Cannabis is a $200 billion global industry worldwide, and while much of that total still comes from illegal sales, it’s quickly transitioning to the legal market. Medical cannabis is now legal in numerous countries throughout Europe and Latin America, with additional reforms taking place globally at rapid pace.
This year, the cannabis industry will get even more global. Most people who operate in this industry think myopically about the opportunity in terms of their own niche or corner of the world. We don’t see it that way. We recognize that we are in the midst of a worldwide paradigm shift. Canada, the first G-7 country to establish a federal medical cannabis program, is now poised to become the first G-7 country with a federal adult use program. Half a dozen governments across the European Union have legalized access to medical cannabis, including Germany, the world’s second largest pharmaceutical market, with its population of over 80 million people. Half a dozen more countries are currently debating the issue in their national parliaments. Expect at least some of them to legalize medical access by the end of 2019.
The global cannabis market – both for medical purposes and responsible consumption – presents numerous opportunities. The end of prohibition is inevitable, and I look forward to witnessing market growth, new products being developed, and the social and economic harms of the war on drugs being remedied in due time.”
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Privateer is a $200million Cannabis investment fund that operates Leafly the premiere cannabis consumer social network, Tilray a top Canadian Licensed Producer, and Marleys Naturals branded products, three of the most recognized names in the industry.