Everyone is starting to talk about Legalization 2.0 as if it’s already here. There’s no denying that there are rumblings and rumours abound. Some of the biggest cannabis companies in the business are changing the way they look and feel, not only adding original concoctions to their product lines but also adding top quality staff to their ranks.
Legalization 2.0, for most Canadians, refers to the new classes of cannabis that will be available at the end of 2019-but truly 2020 will be there year for cannabis extracts, edibles and topical products due to Health Canada’s licence amendment and product approval process. Though, Legalization 2.0 symbolizes a lot more than just new ways to consume cannabis. Legalization 2.0 also represents the post-CannTrust era, where most people are happy to see companies who have run afoul of the regulations get caught. This is arguably the biggest, ‘I told you so’ moment for the Canadian cannabis industry and there will, no doubt, be more examples in 2020.
We’re also witnessing the ongoing battle between the legal market and the legacy market. Cafe and Fine Edibles (CAFE) continues to carry on its operations despite the efforts of law enforcement to shut them down. Consumer demand is outpacing enforceability. The legal cannabis market in Canada is heavily restrictive and as a result, has not allowed licence holders or retailers to thrive. This has provided plenty of room for the legacy market to fill the gaps with more affordable, more varied and less onerously packaged cannabis products.
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Joseph R. Goldfarb