“We asked cannabis world luminaries for predictions about the California cannabis market in 2021. Some of our favorites follow. In another post, we took a look at the challenges facing the California industry in 2021:
Henry Baskerville, Managing Partner, Fortis Law Partners
Baskerville notes that a new DEA interim final rule seeks to criminalize certain cannabinoids, most notably Delta-8 tetrahydrocannabinol (THC), the use of which has rapidly expanded. ‘In my opinion, this new rule appears to be a direct contravention of the letter and spirit of the Farm Bill. The cannabis industry needs better clarity on what is and what is not legal. To the extent that the DEA was trying to resolve confusion with its interim rule, I applaud it. But it should be obvious by now that the result has generated more, not less, confusion.’
Joe Caltabiano, Founder JSC Fund and co-founder of Cresco Labs
‘Expect to see a lot of M&As in the news. The industry thrives when strong companies have access to capital, creating an ongoing influx of new investors. Looking forward to 2021, MSOs see tremendous growth opportunities, and investors are eager to get into the game. There are benefits to being a large operator in multiple states, including access to capital. I also believe we will see more M&A when things are up, instead of operators selling when distressed.’
James Eichner, Co-founder and CSO, Sana Packaging
‘We are confident we will continue to see an increase in awareness about cannabis packaging waste as more and more cannabis companies transition to sustainable packaging products and practices. We expect this trend to grow exponentially in 2021 and beyond, especially when we look at the new state markets that are just beginning to develop their cannabis packaging regulations and best practices.’ …”
Read the full article by Alex Halperin at WeedWeek.
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