(Bloomberg) — Canada “blew it” on cannabis legalization and is rapidly losing ground to the U.S. as a result, according to the founder of one of the top investment banks to the industry. Yet eight months after Canada legalized recreational cannabis, Selfe sees Canopy Growth Corp. as the only Canadian pot company he would classify as a global leader, with big U.S.-focused firms outpacing the rest even though marijuana is still illegal at the federal level. “It’s like liquor in the ’60s.”The non-intoxicating cannabis compound CBD is a case in point. Big U.S. retailers like CVS Health Corp. and Walgreens Boots Alliance Inc. already sell CBD products like lotions and topicals but those aren’t yet legal in Canada. Legal CBD products such as oil and dried flower can only be sold in dispensaries.

Source: National Post June 09, 2019 15:00 UTC