This is a prediction, but here is how legalization of cannabis is going to play out.
If you haven’t seen the movie yet, watch “The Big Short”. In short, the big banks made a bunch of really bad trades that left them exposed to trillions of losses. Instead of accepting the losses, they decided to create fraudulent pricing on the trades and sell them to unknowing investors. Once they had all of the bad trades off of their books, they then corrected the fraudulent pricing to actually reflect the value of the asset. Then the market collapsed.
This can be paralleled to the legalization of cannabis.
1. Large pharma, big tobacco and alcohol companies will continue to drag their feet and lobby against cannabis. (I will be abbreviating Large pharma, big tobacco and alcohol as PTA.
2. At the same time as advocating against cannabis, they will be heavily investing in land, infrastructure, technology and companies in cannabis.
3. Once they have positioned themselves to take over the entire industry, they will quietly stop advocating against the industry.
4. The schedule I classification will be removed and PTA will start creating products.
5. PTA will advocate for regulators to create legislation that is incredibly favorable to their interests in the industry.
6. PTA will completely take over the industry and the products will be regulated even more strictly than alcohol.