Munk Senior Fellow Sean Speer joins the Big Picture Panel on CBC’s On the Money to discuss the recently-passed federal bill to legalize cannabis in Canada.

When asked what he viewed as the challenges Canada will face between now and the official date of legalization, Speer noted three "layers" to the issue — business, policy and politics.

On the business layer, Speer believes "we are about to experience the growth of a major industry" and that, over the coming months, we should expect to see "some consolidation" of the many players already involved.

Concerning policy, the central question is "how the various provinces will choose to effectuate the federal policy choice in their respective jurisdictions." And last, Speer points out the potential political implications of the Trudeau administration having framed legalization as both a "personal liberty" and "public safety" issue, depending on the audience in question.