Federal Marijuana Legalization Is Close, Suggests Canopy-Acreage Deal

Sometimes it is necessary to read between the lines. So, when the largest cannabis company in the world enters into a multi-billion dollar deal with a well-known American cannabis firm — one that is set to take effect only after the federal government repeals marijuana prohibition — it is hard not to consider the possibility that someone knows something and that maybe, just maybe we are closer than we think to living in a time when marijuana is taxed and regulated nationwide in a manner similar to alcohol and tobacco.

It was just last week that Canopy Growth signed a $3.4 billion agreement to acquire the medical marijuana firm Acreage Holdings. You might remember Acreage for its failed attempt at getting a cannabis advertisement approved as part of the sporting circus known as Super Bowl LIII. The basis of the agreement is that as soon as the U.S. government finally musters up the guts to end marijuana prohibition once and for all, Canopy will — snap, bang, boom, just like that — assume the Acreage properties and hit the ground running as the most powerful cannabis seller in the United States. [Read more at Forbes]