Curaleaf’s Boris Jordan Says Rescheduling Cannabis Will Save Industry $200M In Revenue, Bring Illicit Market In From The Cold
Boris Jordan, founder and executive chairman of the board of Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) spoke with CNBC’s Squawk on the Street Friday about President Joe Biden‘s plan to reclassify cannabis to a Schedule III substance.
Jordan opened the conversation by saying this time it seems the government is taking a much more serious approach, “one based on science.”
“This decision is important for two reasons. The first is, is that it will allow for research, very much needed medical research on this plant and the various cannabinoids in this plant,” said Jordan, adding that government-funded research can presumably be undertaken once cannabis is moved to a Schedule III substance.
And Then There’s The IRS
In addition to helping the industry in terms of safety and research there is the black market and the IRS. Jordan explains how they’re connected.
“Consumers today are buying black market products because it is cheap because of this capricious tax that we have to pay,” Jordan said. “We will be able to bring down prices forcing consumers to go to the regulated market where …