Legalization in other states

Currently, 33 states have legalized cannabis for medical purposes. The states include Michigan, Minnesota, North Dakota, and Illinois. Meanwhile, 11 states and Washington DC have legalized marijuana for recreational use. California legalized medical cannabis in 1996 and recreational cannabis in 2016. Texas still doesn’t support legalization.

Also, Florida and Minnesota are ready to welcome cannabis. Oklahoma legalized medical marijuana in 2018. Recently, the state introduced new medical cannabis laws.

Cannabis players’ expansion plans
Major Canadian cannabis players are expanding into Europe and some US states. However, federal restrictions stop companies from expanding in the US.

Canopy Growth (CGC) (WEED) plans to expand its CBD business through its partnership with Martha Stewart. Together, they plan to launch a variety of CBD-based products for animal and human use. However, CBD products still face challenges from the FDA. As a result, we’ll have to see if Canopy Growth expands into the US market. The company will expand in the new edibles and beverages market after Cannabis 2.0. Canopy Growth could face challenges in the US. Aurora Cannabis (ACB) could also face the same hurdles. The company plans to expand into the US after edible legalization in Canada.

Cronos Group (CRON) could face similar problems. Recently, the company announced its entry into the US market. Cronos Group acquired Redwood Holding Group. Redwood manufactures, markets, and distributes hemp-derived CBD infused skincare products and other consumer products. Altria (MO) has a $1.8 billion investment in the company. Cronos Group has lost 9.0% in September, while Canopy Growth has gained 8.5%. Aurora Cannabis has lost 7.6% in September.