Maximum Yield Industry News October/November 2020 - Page 6

VOLUME 19 NUMBER 05 October / November 2020
Not only will larger cannabis companies be competing for an increased market presence , but expect Big Food and Big Ag to jump into the mix as well .”
from the EDITOR
TG Toby Gorman

The cannabis industry in the United States , and by proxy everywhere else , is about to become very interesting . The announcement of Kamala Harris as Joe Biden ’ s selection for vice president triggered the speculation of national legalization . Harris is pro pot and introduced the Marijuana Opportunity Reinvestment and Expungement Act ( MORE Act ). The MORE Act would decriminalize marijuana , remove it from the controlled substance list , and expunge marijuana offenses from a person ’ s record . It would also create a fund from a national tax on marijuana , a much-needed revenue resource as governments continue to spend trillions of dollars to fight COVID . The act is awaiting action in the senate . What ’ s surprising is that a recent poll says that 60 percent of Republicans say they support the MORE Act . That same poll says 58 percent of voters support legalizing marijuana nationwide . With a potential Democratic win in November ’ s general election , it is almost a certainty that the new government will create some kind of national cannabis legalization . In a sector that has been burdened by oversupply and myriad other issues , this will prompt a rush of mergers and acquisitions as profitable companies will seek to buy their way into niche segments . Not only will larger cannabis companies be competing for an increased market presence , but expect Big Food and Big Ag to jump into the mix as well . The result will be a flood of new brands , new marketing strategies , new customers , and new products .

Maximum Yield Industry News is published bi-monthly by Maximum Yield Inc . No part of this magazine may be reproduced without permission from the publisher . The views expressed by columnists are personal opinions and do not necessarily reflect those of Maximum Yield or the editor .
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All of this during a global pandemic that shows no signs of slowing . The last couple of years have been a challenge for companies operating in the cannabis vertical . With the arrival of 2021 , new challenges and new opportunities will keep the industry driving forward .
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