The Bengal Bite 🐯 - Rising Tide of Legalization - 4/3/2020
The tide of cannabis legalization across the United States continues to rise despite difficult macro market conditions, and we believe the “Rising Tide of Legalization” will provide an enormous tailwind to the cannabis industry. Support among Americans for cannabis legalization continues to rise, and many government entities count on cannabis-derived taxes as a meaningful source of revenue. Even in these difficult times of COVID-19, we see vast potential for the industry. Numerous municipalities depend on tax revenue from the industry and have declared cannabis an “essential service” during this period of uncertainty. The tide continues to shift, and we see promise ahead.
The Bengal Capital Team
Why States Need to 'Flick the Legal Switch' on Cannabis Amid COVID-19
“Cannabis is simply one of the few sectors that governments can identify where with the flick of a legal switch, revenue and employment can be found."
Insurance-Covered Cannabis in Germany sets Fourth-Quarter Record
The legal medical market in Germany gives us a glimpse into what legalization could look like in the United States. Insurance coverage for medical cannabis in Germany has been a game changer, and we believe it could be a massive industry tailwind in the United States. Insurance reimbursements for medical cannabis in Germany increased 70% in 2019 and reached a new high during Q4, according to data from the German National Association of Statutory Health Insurance Funds.
Legalization of Medical Marijuana in the South on the Rise
Efforts are underway to advance the legalization of medical use cannabis throughout the southern United States. The South has been slow to warm to the cannabis industry, but the region has promise given lower costs and potentially fewer barriers to entry for cannabis entrepreneurs.
Despite coronavirus quarantine orders across the country, cannabis has been declared an “essential service” by many states and cannabis businesses have been allowed to stay open (often by offering curbside pickup and delivery).
