In The News

In a Cannabis Business Times article, government affairs and public policy partner Zachary Kobrin in Fort Lauderdale shared predictions for the newly legalized adult-use markets in Maryland and Missouri, as well as how the federal landscape may shift in the next year.

On the topic of the SAFE Banking Act, Kobrin said it is “the most obvious choice for marijuana legislation,” and added that he would  like to see Congress pass the Capital Lending and Investment for Marijuana Businesses (CLIMB) Act, which would allow U.S.-based cannabis businesses to list on U.S. stock exchanges.

“'I think the stock exchanges are the biggest impediment right now to seeing full-blown access to cannabis within the marketplace,' Kobrin said. 'Right now, the New York Stock Exchange will not allow U.S. plant-touching operators to be traded. So, that means that… Procter & Gamble, Coca-Cola, Unilever—[consumer packaged goods] companies, food manufacturing companies—they can’t operate in cannabis. Even Big Pharma can’t operate in cannabis because they’re listed on these public exchanges.'”

Kobrin continued: “I also think the results of the election potentially leave room for more incremental changes, stuff that can actually get done. So, [maybe it’s] insurance reform, maybe tax reform, … or research and development, or VA benefits. Instead of looking for the home run, umbrella cannabis reform bill, let’s just pass something small. One domino then begets another, and another.”

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