NYAIR Episode 65
The Evolving Cannabis Landscape
Explore the rapidly evolving cannabis sector with top industry experts who decode the market's latest legal, financial, and operational challenges. This episode reveals how adult-use legalization across the East Coast, shifting federal policies, and capital market trends shape investment opportunities. Gain actionable insights into navigating regulatory risks, capital flows, and emerging private and public market strategies for senior finance professionals looking to capitalize on one of today’s fastest-growing alternative asset classes.
Featured Guests
Gretchen Gailey
Founder, Panoptix Strategies; Advisor, Skip Intro Advisors
Gretchen Gailey brings over six years of specialized experience in the cannabis industry through communications and government affairs roles. She has played a key role advising on tax policy and collaborated with key U.S. financial committees to support cannabis tax legislation. Gretchen’s expertise bridges the regulatory and policy spheres, providing strategic guidance for industry advancement.
Robert Hunt
Founder & Managing Member, Lanaya Holdings
Robert Hunt specializes in cannabis-related legislative compliance, due diligence, and transactional structuring for debt and equity investments. He has founded several successful cannabis businesses and served in key leadership roles, including president of the retail division at GrowLife Inc. Hunt is noted for his expertise in navigating complex regulatory environments and fostering growth for cannabis operators.
Jeff Schultz
Partner, Ferenstein & Company
Jeff Schultz advises alternative investment managers on regulatory, compliance, operational, and M&A matters within the cannabis space. He has served as general counsel and chief compliance officer for major private funds focused on cannabis investments. A vocal advocate for cannabis policy reform, Jeff holds leadership roles in New York State’s cannabis law and industry committees.
Mike Zaitsev (Mike Z)
Founder & CEO, High New York; Author, Cannabis Business Coach Podcast
Mike Zaitsev is an influential cannabis industry mentor and ecosystem builder. With a background as a financial analyst at JP Morgan and technology experience at Google, Mike brings a unique perspective on cannabis entrepreneurship, market growth, and regulatory education. He hosts one of the leading cannabis business podcasts, educating entrepreneurs and investors nationwide.
Key Insights From This Episode
Eastern U.S. Legalization Momentum
Rapid adoption of adult-use cannabis laws from Connecticut to New York is creating one of the largest contiguous legal markets in the U.S., transforming regional economic landscapes and regulatory considerations.
Federal Policy Uncertainty Persists
Despite progress at state levels, federal legalization and decriminalization remain distant, with political hurdles and limited appetite in Washington, complicating banking access and investment flows.
Capital Flows Shift Between Public and Private Markets
The cannabis investment landscape is evolving, with a recent surge in both private equity roll-ups and public market SPAC activity, driven by liquidity needs and arbitrage opportunities.
Regulatory Complexity and Compliance Risks
Investors face challenges navigating overlapping state laws, federal constraints, and tax-related burdens like Section 280E, requiring sophisticated due diligence and risk management.
Normalization Fuels Market Growth
Consumer attitudes and cultural acceptance of cannabis are normalizing rapidly, aided by expanding retail footprints and municipal adoption, underpinning long-term demand growth.
Industrial Hemp Emerges as a Distinct Opportunity
Beyond cannabinoids, industrial hemp’s applications in construction, textiles, and sustainability signal a growing investment frontier often overlooked by mainstream capital.
Access the Full Conversation
Gain critical perspectives and practical strategies from industry leaders to position portfolios ahead of market developments. This episode includes comprehensive audio coverage and a detailed insights deck highlighting cannabis investment fundamentals and emerging trends.
Soundbites Worth Saving
“““Connecticut’s legalization marks a key milestone, pushing the East Coast towards a massive contiguous legal cannabis market.”
— Gretchen Gailey
“Despite federal gridlock, state-level progress is enabling capital to flow and the industry to mature in unprecedented ways.”
— Robert Hunt
“Safe Banking legislation will reduce cost of capital and is essential for equitable access, especially for minority and social equity applicants.”
— Jeff Schultz
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