It’s legal to possess and consume cannabis in Canada now, from coast to coast. The federal government owns the means of production, but small garden grows are allowed. Sales will be regulated by the provinces, and regulations range from provincially-operated stores only, to a mixture of province and private stores, to entirely private. You won’t get busted (unless you are stupid), but pay attention to local rules.
Edibles won’t be allowed for another year or so while rules are developed. This is likely due to ignorance and fear, though it will provide time for necessary consumer education.
Cannabis firms will have access to capital markets and banking services, and able to export to other countries, except the US. You already see US capital fleeing to Canada and their securities exchanges, and Canadian firms are ramping up fast to get the jump on the US when it comes to the global markets. Canadian weed is very highly respected for it’s quality.
But watch out: Canadians crossing the border into the US might be asked by Border Control if they use marijuana. If they answer yes, or are found with marijuana in their possession, the US will impose a lifetime ban on ever entering the US again. Similarly if they’ve ever been charged with a marijuana offense. If they answer no and then are discovered to have a charge or in possession, it’s a lifetime ban.
Americans returning to the US from Canada will be subject to harsh penalties. Remember that Border Control is exempt from the US Constitutional provisions, including the bill of rights. In their infantile minds, an American returning from say, Vancouver or Toronto, can be regarded as suspicious of using or having cannabis, leading to a search of your body, vehicle and all other possessions. Similarly, Canadian customs can be looking for US weed crossing into their country. Given the stupid attitude of the US administration right now regarding Canada, you could find yourself trapped in a political dispute.
If you have a marijuana charge on your US record, Canada can deny entry.
Going either way, lying and being found out subjects you to similar actions and penalties.
Be sure you understand your risks!