Much of the remaining investment in the space is betting on the U.S. opening up, with large public Canadian companies such as Canopy Growth Corp. (CGC)(CA:WEED) and Aurora Cannabis Inc. (ACB)(CA:ACB) — which can list on the major U.S. exchanges because recreational pot is legal in Canada — acquiring warrants to own MSOs and other U.S.-focused businesses if the sale of recreational marijuana becomes federally legal.
Burleson pointed out that Biden voiced support for reclassifying marijuana in the Controlled Substances Act and making medicinal marijuana federally legal — as it is in at least 33 states — could end punitive taxes on pot companies and bring their effective tax rates down from more than 50% to closer to 21% of net income.
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