Legal Canadian pot sales handcuffed by mishmash of regulations

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Canadian spending on legal pot will increase ninefold to $5.2 billion (U.S.) by 2024, but the market’s potential continues to be hindered by a patchwork of provincial regulations, according to a new report.

After becoming the first major economy to legalize recreational cannabis on Oct. 17, Canadian sales are expected to grow at a compound annual rate of 44 per cent to $5.2 billion in 2024 from $569 million in 2018, Arcview Market Research and BDS Analytics said Tuesday. That’s down from a January forecast of $5.9 billion by 2022.

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