Report: Ontario Plans to Privatize Marijuana Sales

Big news is expected to come out of Ontario next week.

According to Vice News, Premier Doug Ford is planning to overturn the decision granting the provincial liquor regulator exclusive rights over cannabis retail sales. This action would allow private retailers to sell marijuana within the province.  

The province is still expected to handle the wholesale distribution of the product as well as its online sale.

Prior to this decision, the province was on track to start with a 40-store rollout, which many doubted would be equipped to deal with the demand in a province of 14 million.

Cannabis lawyers and investors expressed hope that this decision would help mitigate black market sales in favor of regulated, taxable sales with would bring increased revenue to the province without the infrastructure costs necessary to establish their own retail presence.

Others expressed concern over wholesale markup and the rising cost of taxes, pricing out smaller businesses.

While this seems to be good news for cannabis consumers in the province, increasing their options and helping to reduce the stigmatization against people who work within the cannabis industry, it is not yet clear exactly how these regulations will take shape.

We will soon find out, however. The government is expected to make its official announcement on July 31.

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Last December, America officially legalized hemp with the passage of the 2018 Farm Bill. The new law is a game-changer for the agricultural industry in America as farmers can now start growing and selling the non-intoxicating cannabis crop across the country. But it will be a while before the United States can top the world's biggest hemp producer.

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