The wait is nearly over. With literally hours remaining, Canada is set to lift the curtain on nine decades of recreational marijuana prohibition tomorrow. When licensed dispensaries open for business on Oct. 17, 2018, adults aged 18 or 19 (depending on the province) and older will be able to buy up to 30 grams of cannabis. This makes Canada the first industrialized country in the world to legalize adult-use weed.
As you might rightly imagine, investors can’t wait for this legalization to take place. It’s expected to usher in billions of dollars in added annual sales for the legal pot industry, as well as provide a boost to ancillary businesses operating in the background. But what might be the most remarkable aspect of Canada’s historic move to wave the green flag on cannabis is that it has some of the world’s most consumer-facing companies itching to get in on the action.
Rolling back prices, and rolling out cannabis products?
As reported by Bloomberg last week, the world’s largest private employer with 2.2 million workers, Walmart (NYSE:WMT), is seriously tinkering with the idea of selling cannabidiol (CBD)-based products in Canada. CBD is the non-psychoactive cannabinoid of the cannabis plant that’s best known for its perceived medical benefits. While Walmart isn’t going to stock its shelves with dried cannabis products, it may aim to put CBD oils, capsules, and pills right alongside Tylenol in the first-aid aisles of its Canadian locations.
Should Walmart choose to move forward with its plan to stock CBD in its store or online, it would actually mark a natural progression for a company that, according to Marijuana Business Daily, already sells hemp oil products online. Hemp plants contains minute amounts of tetrahydrocannabinol (THC), the cannabinoid that gets a user “high,” but is rich in CBD. Adding CBD products even to its online assortment could allow Walmart…
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