California Pot Seen Commanding Extra Cachet

Glass House Brands Inc., one of California’s largest marijuana growers, is planning for a U.S. market with no interstate boundaries in which any state’s cannabis can be sold legally across the country.

The Santa Barbara-based company recently completed a transaction with a special purpose acquisition company. But instead of building out production elsewhere to gain access to new markets, Glass House doesn’t plan to use any new capital to expand beyond California, Chief Executive Kyle Kazan told me in a recent interview.