When most people talk about Canada's impending legalization of marijuana, they talk about the future. When Kevin Sabet talks about it, he worries about history repeating. 

I think it's a really bad move- Kevin Sabet

 "There are huge misconceptions, I often feel like we're living in 1918, not 2018," he said."When I say 1918, I mean 1918 for tobacco when everyone thought that smoking cigarettes was no problem and we had a new industry that was just starting." In 1918, soldiers returning home from the trenches of the First World War brought cigarettes home with them and unwittingly sowed the seeds of one of 20th century's biggest health epidemics. 

A lot of people are pretty happy that they’ll soon be able to smoke pot in public (without getting into trouble). But not everyone is completely comfortable with legalization, given how little we actually know about the safety of cannabis consumption.

Many, like Dr. Tim Holland, president of Doctors Nova Scotia, an association representing all physicians in the province, say we need more research—and we need it now. “Thus far, research has been quite limited and some of it has been questionable because it was conducted by the proponents of the cannabis industry,” he says. “A big part of the problem has been a lack of funding, and also that marijuana was illegal, making it harder to study.”

Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are taking a pass.

Allianz SE, Hartford Financial Services Group Inc., and Nationwide Mutual Insurance Co. are among large insurers that aren’t covering marijuana-related businesses. Even as U.S. states increasingly permit the use of pot for medicinal or recreational purposes, the federal government has held fast in keeping weed illegal. That’s driven off name-brand insurers and left the field open for smaller firms.

Whether you realize or not, you'll bear witness to history in less than two months. On Oct. 17, 2018, Canada is set to become the first industrialized country in the world to legalize recreational marijuana. Overall, it'll be only the second country, other than Uruguay, to green-light adult-use pot.

Canopy Growth Corp.’s chief executive officer expects one “Google-like company” to dominate the cannabis industry. His own firm may well be on its way.

Canopy’s transformative deal with Constellation Brands Inc., the maker of Corona beer, has given it legitimacy, clout and a cash hoard that has widened the gap with its competitors. The deal has boosted Canopy’s stock 56 per cent since Constellation’s $5 billion (US$3.8 billion) investment for a 38 per cent stake was announced last week. That brings its market value to $11 billion, in the same league as plane maker Bombardier Inc. and retailer Canadian Tire Corp. and about $3.7 billion more than its nearest competitor Aurora Cannabis Inc.

Eve & Co Incorporated CEO Melinda Rombouts used to grow flowers for a living. Maybe that's why she can see the vast potential of a blossoming industry where some others don't. 

"We were in seasonal flowers," she said, noting one cold May too many convinced her to get out of the flower business altogether.

"The weather was really hurting us and that's where we really decided we had to get into something different."

So Rombouts did her research and after about six months, she not only saw a future in cannabis, but saw the potential in marketing it specifically to women.  

"We really wanted to bring a genuine perspective and women can do that for women," she said. 

Whether we like it or not, marijuana will be legal in Canada on Oct. 17.

Concerns about youth having easier access to the drug and people driving while high, still linger. Only time will tell how the legalization will impact public safety. For over a year now there has been relatively easy access to medical cannabis through dispensaries in Alderville. Dispensaries such as Medicine Wheel Natural Healing offer people a chance to learn more about how cannabis can help with certain ailments. Alternatives, such as cannabis without the high attached, are offered and popular with seniors. Many people say cannabis offers relief for a host of ailments. Medicine Wheel Natural Healing Rob Stevenson said it helps relieve his anxiety. Others find help with insomnia, MS and pain.

Ontario Premier Doug Ford should be congratulated for improving Ontario’s marijuana market structure last week. He decided to privatize the retailing of marijuana in the province. That decision represents a reversal of the previous government’s choice to place retailing in the hands of a high-cost government monopoly. This is good news.

Aurora Cannabis Inc (TSX:ACB) (OTCQB:ACBFF) (FRA:21P) 2018 asset acquisition spree is starting to pay dividends. The company announced very material news after the bell on Wednesday; news that is significant both for its contents, and raison d’être behind the most aggressive acquisition splurge in the cannabis sector—by far.

The country will only be the second in the world, behind Uruguay, to allow for both medical and recreational cannabis consumption. However, Canada reigns supreme in the emerging global cannabis market. In this next phase of legal cannabis, Canada’s established licensed producers (LPs) are expected to have a first-mover advantage both at home and abroad.