Victory In Commerce Clause Case Could Be The Silver Bullet For Cannabis Industry, Experts Say
“We want to be treated like any other industry,” Jason Wild, CEO of a leading cannabis operator TerrAscend Corp (OTCQX:TSNDF) said Tuesday at Benzinga Cannabis Capital Conference in Chicago, Illinois. “That’s all we want. We don’t want any special treatment. We just want to be not treated like criminals.”
The panel, moderated by Tim Seymour, portfolio manager of the Amplify Seymour Cannabis ETF (NYSE:CNBS), discussed the commerce clause, a critical issue for the cannabis industry. The commerce clause in the U.S. Constitution gives the U.S. Congress the power to regulate commerce between states, with foreign nations and Indian tribes.
Emily Paxhia, managing one of the longest-running dedicated cannabis investment funds, Poseidon Investment Management, explained the distinction: intrastate refers to cannabis retail, sales and manufacturing within a single state, while interstate commerce pertains to activities across state lines, involving the dormant commerce clause.
In July, a federal court dismissed a lawsuit from …