Ben Kovler
Showing 1–2 of 2 transcripts.
- Milken Institute1h 1m
Power Plant? Exploring the Cannabis Industry
Karan Wadhera, Mike Harden, Ben Kovler, Bharat Vasan, Jeff Wells
Projected to reach a $75 billion valuation by 2030, the U.S. cannabis industry is undergoing a structural shift from unregulated commodity sales to a branded, data-driven sector supported by 64% public approval. While federal restrictions currently inflate capital costs and isolate the market, political momentum and state-level innovations are driving investment into operational technology and consumer-focused brands that challenge traditional alcohol and opioid consumption. This trajectory sets the stage for eventual federal reform, where industry consolidation and the entry of major multinational corporations will likely redefine the competitive landscape alongside expanding global export opportunities.
- Milken Institute1h 1m
Medical Marijuana: Health and (Financial) Wellness
Tara Kelly, Lynn Honderd, Ben Kovler, Brian Reynolds, Juan Sartori
A panel of industry leaders from Green Thumb Industries, Mary's Medicinals, and International Cannabis Corporation discussed a rapidly expanding cannabis market projected to reach $45 billion in legal demand as 70% of U.S. states move toward medical legalization. Panelists highlighted significant arbitrage opportunities driven by vertical integration and global export potential, while noting that federal restrictions, specifically IRS Code 280E and banking prohibitions, currently create a temporary regulatory moat for private capital. The discussion concluded with a strategic outlook favoring branded consumer products and pharmaceutical applications over commodity flower, anticipating a transition to a regulated global agricultural sector once domestic policy alignment occurs.