Kevin O’Leary: ‘Nobody Wants to Buy Their Drugs from the Government Because It’s Crappy Drugs, You Get Better Drugs from the Dealer’

EXCERPT:

O’LEARY: “You know, it’s probably a political move and I look at it from this perspective. The chance that it gets removed off the Schedule I narcotics, where it was put on in the ‘70s, like mid-‘70s, the process to do that takes forever. And so this will never happen before the election. And one of the reasons they have never been able to get capital from institutions — or from me, for that matter — is I don’t mess with Schedule I narcotics because it’s a federal mandate. Sure, you have states that have done this. And by the way, the economics aren’t that attractive. Massachusetts did it, California did it. All it does is set up the dealers, make them less hassled by the law because nobody wants to buy their drugs from the government because it’s crappy drugs. You get better drugs from the dealer. And that happened in Canada, too. So, a lot of these licenses, these companies went bankrupt, they paid millions for them. There’s a lot of unintended consequences. Not going to happen anytime soon.”