Margaret Brodie on Canadian and US Cannabis Market Updates
The latest Trade to Black podcast focuses on two major storylines shaping the cannabis industry: ongoing hemp policy battles in Washington, and the maturing Canadian marketplace. Hosts Shadd Dales and Anthony Varrell are joined by Michael Bronstein, president of the American Trade Association for Cannabis and Hemp, and Rubicon Organics (TSX: ROMJ | OTCQX: ROMJF) CEO Margaret Brodie on the company and her perspective on the broader Canadian cannabis landscape.
In the US, Minnesota is navigating lawsuits tied to its adult-use rollout, and Virginia’s upcoming gubernatorial election could set the stage for legalization if Rep. Abigail Spanberger wins in November. Bronstein discusses Senator Rand Paul’s warning last week that Congress could still slip in language banning hemp through appropriations or conference negotiations. Paul argued that cannabis should be regulated by final product instead of at the plant level, since the 2018 Farm Bill left loopholes that created confusion around synthetic cannabinoids.
Bronstein notes that advocacy efforts are stronger than a decade ago but remain fragmented, with state-by-state approaches making it difficult to present a unified federal strategy. He added that congressional staff often receive talking points that avoid key issues such as intoxicating products, leaving lawmakers poorly informed about what is actually being sold in the marketplace.
Canadian cannabis operators that remain in the market continue to show resilience, even while excise tax obligations weigh heavily on the sector. Talks in Ottawa between the Liberal government and former Bank of England governor Mark Carney have raised questions about whether meaningful reform could finally be on the table.
Brodie then provides an update from Canada, where the Canadian legal cannabis market has stabilized. She discusses how companies that have survived industry consolidation are positioned today, and why potential tax reform matters for long-term competitiveness. Pre-rolls emerged as the leading category this summer, and consumers showed greater trust in consistency and brand quality. Rubicon is preparing to bring its new Cascadia facility online in British Columbia, which will increase production capacity by 40 percent. Brody stressed that Rubicon will only release product that meets premium standards, even during expansion.
