Through the Nevada Cannabis Industry Association, the investment banker turned canna-businessman, who has spent the last four years living in Nevada, has helped 15 organizations successfully apply for marijuana distribution licenses. He is launching a hedge fund based in Nevada that will invest throughout the country, and is also creating a cannabis industry association in New York.
The interview is worth quoting at length for Bosckor’s unique insight into the future of the marijuana market locally, nationally, and globally, but here are some highlights. Be sure to read the rest in Crain’s New York Business.
On the potential market for legal marijuana: “The global recreational market is somewhere between $40 billion and $110 billion a year. The medical market is $10 billion a year, probably more. Then there’s the supplement and nutraceutical market. If you go into Amazon right now and type in ‘CBD,’ there are over 100 products that come up with some reference to cannabidiol; there will be many, many more.”
On what Nevada got right with their medical marijuana legislation: “There are a few things that Nevada has done right. One is [allowing] for-profit entities…The other common-sense component is reciprocity for other states’ [medical marijuana] programs,” referring to the fact that Nevada’s dispensaries will accept valid medical marijuana cards from other states.
On Tribal marijuana interests: “Because Nevada is being looked at by many people as the best business-friendly and entrepreneur-friendly framework for the legal cannabis business, we are also stakeholders in other states. We’ve been approached by two Native American groups interested in doing business with us. You can do things when you utilize a sovereignty of a tribally formed enterprise that you can’t do in any other way,” going on to outline the potentiality of financial institution acquisition under Tribal sovereignty as well as importation of cannabis seeds from abroad otherwise illegal to import to the United States.