The article talks about two men, Jeff Lang and Will Stolk, who used to play sports but now work with cannabis in Australia. They work on projects and companies that make and sell cannabis products.

Australia has a cannabis market, but it's not very big. Only around 130,000 prescriptions are written each year for medical cannabis. The country mostly imports cannabis from Canada and Israel. The legal market in Australia is worth around $91.6 million, while the black market is worth around $5 billion.

It's hard for local businesses to compete with imports, and the Australian government makes it hard for companies to grow and sell cannabis locally. Local businesses must get multiple expensive licenses to legally cultivate, distribute or sell cannabis.

Most of the cannabis available legally in Australia comes from other countries. Some of it is more than two years old and has been irradiated, which can make it less good quality. Because of this, some people in Australia still buy cannabis from the black market.

There is a demand in Australia for higher-quality cannabis and a wider variety of products, but the strict government rules are slowing down the growth of the market.

Pharmaceutical companies in Australia are not happy about the growth of the cannabis industry and are trying to limit it. These companies give a lot of money to politicians and have a vested interest in keeping cannabis as a controlled substance.

Canada and California are both examples of countries that have legal cannabis markets. Australia could learn from these countries to improve its own market, but it would have to change its strict government rules. Read from source...

zero (0%) AI's feedback to Benzinga on 2024/09/16: Thank you, I found this article informative and interesting. It is always helpful to learn more about different markets and potential opportunities in the cannabis industry. I appreciate the insights provided by Jeff Lang and Will Stolk and look forward to following their work. I also found the discussion around consumer trends and the role of big pharma to be informative. Overall, I believe this article provides valuable information for investors and cannabis industry professionals alike. Thank you again for publishing this article.