Cannabis legalization in Canada is on the cusp of becoming official. On the 17th day of this month, the green plant will become legal for adult-use in the Great White North, where, according to Statistics Canada, some 2.4 million people are said to be regular cannabis consumers.

It’s an exciting time for Canada, which is anticipated to pull in as much as $22.6 billion in revenue once the plant is legalized, based on a Deloitte report. With under two weeks to go until the Cannabis Act (Bill C-45) goes into effect, you’d think that Canada is prepared for its legal weed industry. However, America’s northern neighbor still has a few loose ends to tie up before the cannabis market can thrive.  

Rules for cannabis legalization in Canada are still being worked out

The people of Canada were duped into believing that the leafy green plant would officially become legal back in July. Prime Minister Justin Trudeau promised his people that this would be the all-important month in which bud would be legally manufactured, sold and consumed in all provinces.

Despite having delayed the launch date of Canada’s cannabis industry, the government clearly underestimated how much time they’d need to get things in order. As legalization fast approaches, Canada is feeling the pressure to clarify a number of rules.

Cannabis legalization in Canada: Edibles

Regulators are still figuring out regulations for cannabis edibles in Canada.  Unfortunately, lovers of bud-infused bites like cookies, chocolates and savory treats will have to wait until July of next year to legally purchase edible pot products.

This is according to Liberal MP John Oliver. However, NDP MP Don Davies doesn’t agree with the decision.

“There is no reason whatsoever to go slow on this, because there’s nothing that we’re going to be learning in the next year about these products that we don’t know now,” said Davies. “While we wait 12 months, Canadians are still going to be getting edibles, but they’re going to be getting it from sources that are completely unregulated.”

The Great White North could financially benefit from legalizing edibles, what with three in 10 Canadians saying they would try an edible weed product when they become legal, according to a recent poll.

Cannabis legalization in Canada: Retail spaces

Canada’s cannabis laws have prompted a surge in demand for retail spaces. Nonetheless, with legalization right around the corner, the rules on retail spaces are still very unclear. Newly elected Premier Doug Ford just introduced a shocking policy shift that could force weed sales to private stores.  

Canaccord Genuity analyst Matt Bottomley disapproves of the idea, saying that the move could impact initial sales once the Cannabis Act goes into full force.

“That will potentially make the sales that we see in the first quarter or two in a legalized market lower,” Bottomley said in a telephone interview. “There’s no way you’re pivoting that platform in anything less than six months.”

Cannabis legalization in Canada: Grey market

Just because cannabis prohibition is coming to an end in Canada, it doesn’t exactly mean that the grey market is going to disappear into thin air. In fact, concerned advocates are worried that certain delays in legalization could potentially bolster the grey market.

Should Ford’s private retail sales policy be enacted, bud businesses will likely suffer, while the grey market continues to thrive. Regulators have been urged to include the grey market in Canada’s cannabis legalization, but this isn’t likely to happen any time soon. Since illicit sales are not taxed, prices could undercut legal weed costs.

Hopefully, Canada will follow in America’s footsteps by transitioning existing cannabis dispensaries into the legal weed market. This idea has been supported by the president of the Canadian Association of Medical Cannabis Dispensaries, Jeremy Jacob.

“They captured a whole bunch of the existing market and simply regulated it,” Jacob said about the U.S. cannabis industry.  “They gave a head start to small business.”

Cannabis legalization in Canada: Consumption spaces

Last but not least, consumption spaces. Although the rules are still being worked out, police will have the power to slap someone with a penalty if they are caught using weed in public.

The general rules are that cannabis consumers will be able to smoke the green stuff on their property. However, the rules may vary by province, city or town.