What are the prospects of a futures market opening up on cannabis? I assume that it wont really take off until weed is legalized at the federal level. Has anyone heard of any OTC shops making markets intrastate (i.e. inside of CA, CO, etc)? I have to imagine that their are some retailers and producers looking for something of this nature.
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I'm not 100% informed on the matter. But I do think there are issues with physical delivery of the futures because it may be illegal depending on the state. And even within legalized states it may be illegal for physical exchange. The futures could trade on a cash settlement basis but there still may not be enough liquidity for a market. Potentially in the future there could be. But as of right now, still too many legal barriers, and suppliers as of right now may not have significant motivation for a hedging strategy bc of relative illiquidity and concerns with navigating legislation.
Markets would have to close at 4:20 pm
Think about the prohibition era, which is the same case for weed right now. Right now, the CBD(from hemp not weed) market is growing rapidly and there is a great amount of room for incredible growth. I don't know which state you're currently in, but NYC is very close to the subject, and almost every health store will have legal CBD products. If marijuana were to be federally legalized, I think the potential is as great as any consumer IT or pharm product.
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