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Is Federal Legalization of Cannabis a Complex Issue?

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Is Federal Legalization of Cannabis a Complex Issue?

According to the founder, president, and CIO of NewLake Capital Partners Inc., Anthony Coniglio, federal legalization is the key catalyst for the cannabis industry’s growth. However, he acknowledges that it will take many years to achieve this milestone. Coniglio made these remarks at the recent Benzinga Cannabis Capital Conference in Miami.

The journey of cannabis from being an illegal substance to becoming a powerful industry has been full of dramatic twists and turns. At the conference, Coniglio and Bryan McLaren, chairman and CEO of Zoned Properties, shed light on the challenges and opportunities faced by the cannabis industry.

If you want to learn more about these revelations and other insights, make sure to attend the Benzinga Cannabis Capital Conference in Chicago on September 27 and 28.

The Complexities of Federal Legalization

During the conference, Maureen Meehan, a Benzinga editor, raised a question about the possible complexities that federal legalization could bring. Coniglio responded by emphasizing the need to consider factors such as FDA oversight, the existence of a three-tier model, and the influence of lobbyists from different industries.

Coniglio also discussed the forces shaping the cannabis landscape, explaining that outside influences, including the convenience store, liquor and wine, and pharmaceutical industries, play a significant role in determining the industry’s direction. He highlighted the importance of engagement in lobbying efforts to shape the industry as desired.

McLaren provided a pragmatic perspective on the situation. He mentioned the importance of distinguishing between reality and perception in the cannabis industry. Additionally, he pointed out that while federal reform is crucial, some groups have already found solutions to navigate challenges without relying solely on federal legalization.

Discover more valuable insights and discussions at the Benzinga Cannabis Capital Conference in Chicago on September 27 and 28. For detailed information, visit bzcannabis.com.

Image by El Planteo