Marijuana Derivatives Still ‘Way Off,’ CFTC’s Giancarlo Says

The head of the Commodity Futures Trading Commission doesn’t see marijuana derivatives trading in the U.S. anytime soon.

Futures contracts are “still a way off” as the substance hasn’t been federally legalized in the country yet, Chairman J. Christopher Giancarlo said in an interview following a panel discussion at an Ontario Securities Commission event in Toronto Nov. 8.

“When social policy catches up, the markets will adapt very quickly and you would see cannabis futures,” he said, adding that he hasn’t started looking at these contracts yet.

Cannabis is now legal across Canada, and U.S. firms are rushing north of ...