It is already being compared to the end of prohibition.
Justin Trudeau’s majority win in Monday’s election paves the way for Canada to legalize recreational marijuana, a move that would transform the country’s nascent pot industry overnight. But while that is extremely exciting news for the licensed producers in the space, it would bring plenty of challenges as well.
The opportunity is obvious. There are currently about 35,000 to 40,000 patients enrolled in Health Canada’s medical marijuana program. The total market is worth perhaps $80 million to $100 million. If recreational pot becomes legal, the potential customer base suddenly runs in the millions. Dundee Capital Markets analyst Aaron Salz figures the market would then be worth up to $5 billion.
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