Corporate investing in California marijuana businesses and sales is driven by the consumer demand for these products. A survey of 2,000 consumers in the U.S. and Canada, conducted by a global management and strategy consulting firm, revealed more than 50 percent of respondents in both countries indicated they would dabble in the drug if it was allowed by law – if or or when that happens.
Cannabis will be legal in Canada officially on Oct. 17. In the U.S., however, federal law prohibits the drug’s use or sale for any purpose, but the law is not evenly enforced given the fact that 30 states plus Washington, D.C. have approved it for some level of use, a handful of those – including California – allowing recreational use with restrictions.
The research was released in this moment where big-name brand corporations are toying with the notion – some seriously – of investing in legal marijuana businesses in California and beyond. Continue reading