Legal Marijuana's Pivot From Canada To US, Beyond Is Accelerating

After the global industry jolt in 2018 when Canada legalized the recreational and medical use of cannabis, licensed producers and investors are well into a pivot to the U.S. market and beyond for future growth.

That's the consensus of a panel Wednesday at the Benzinga Cannabis Capital Conference that underlined how the industry is shifting geographically, including penetration into Latin America and Europe.

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Brent Johnson, managing attorney for the Hoban Law Group, said the hemp space is a novelty for investors looking for growth opportunities.

"People are just starting to look at hemp and gathering that data. In the U.S. market, marijuana remains illegal at the federal level. But hemp, especially with the 2018 Farm Bill, is wide open to full-blown commercial development," Johnson said.