Marijuana sales officially began in Canada on Wednesday, making it the first G7 country — and the second country in the world after Uruguay — to legalize the drug for all adults.
Prime Minister Justin Trudeau campaigned on a promise to legalize marijuana, and his Liberal government delivered in the form of Bill C-45, otherwise known as the Cannabis Act.
While Trudeau cast the bill in a public health lens, in order to make marijuana more difficult for teenagers to access and erode black market profits, the global financial community is eagerly looking at Canada to see how legalization plays out.
The bill legalizes marijuana but leaves it up to each province to set age limits and decide how to sell it. Some provinces, like Ontario — Canada’s most populous province and financial center — won’t have open storefronts on Wednesday.