But federal law still considers it a Schedule I controlled substance with high risk of abuse and no accepted medical use, alongside drugs like heroin, LSD and peyote.
That makes it impossible for companies operating in a legal landscape like California or Colorado to make use of institutional banking or financing services, access capital markets or do business outside their respective state lines.
The government has estimated that only about 10,000 people would be eligible under the system set up in 2019 to fast-track pardons for minor marijuana possession offences.
“Canadian companies who now have a couple of years of operating experience under a legal regime have learned how to mass produce.