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As the cannabis industry eagerly watches for changes to federal regulations, Boris Jordan, executive chairman of Curaleaf, weighed in on how potential rescheduling could reshape both the U.S. and international cannabis markets. During his interview at the Benzinga Cannabis Capital Conference, Jordan shared his thoughts on how the evolving regulatory landscape could impact Curaleaf’s expansion and the broader cannabis industry.
The Impact of Federal Rescheduling
Jordan emphasized the positive effects that federal rescheduling would have on Curaleaf’s operations in the U.S. and globally. “Any change, positive change in the U.S., always helps business, whether in the U.S. or internationally,” he said. For example, a shift to Schedule III would allow Curaleaf to unlock more capital for its domestic and international investments. “Schedule III would allow us to free up more cash to invest in both the U.S. and international businesses,” Jordan noted.
The timing of regulatory developments could be crucial for the company’s profitability. Jordan pointed to Florida’s Amendment 3, which, if passed, could significantly boost Curaleaf’s revenue. “Florida, Amendment 3 would also change the game picture because it would substantially increase our revenue and profitability,” he explained.
Navigating the Complex Cannabis Regulatory Environment
Jordan also compared his experience working in emerging markets to his challenges in the cannabis industry. With a background in privatizing industries in volatile markets, he drew parallels to the regulatory hurdles in cannabis. “Working in emerging markets prepared me for what I’ve seen now in cannabis because it was a difficult environment; the rule of law is tough in emerging markets, whereas here in cannabis, we have no law because, as we’re all federally illegal,” Jordan stated.
His experience navigating complex regulatory environments has been instrumental in guiding Curaleaf through the U.S. cannabis market’s legal uncertainties. “That experience definitely helped me in navigating the current waters that we have in cannabis,” he added.
Looking Ahead Despite Challenges
Despite the current difficulties faced by the cannabis industry, Jordan remains optimistic about the future. When asked what he hopes people take away from his panel discussion, Jordan underscored the market’s long-term potential. “The industry, although going through a challenging time, still has a tremendous amount of upside and has a tremendous amount of future built into it, future growth,” he said.
Jordan’s message was clear: while the path to federal legalization may still be filled with obstacles, the cannabis industry has the resilience and potential to continue growing.
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“}]] Federal rescheduling could positively impact Curaleaf’s operations in the U.S. and across the globe, Boris Jordan says. Read More