Canadian stock exchanges have the highest concentration of both mining and energy listings in the world.  Almost 60% of the world’s mining companies seek listings on the TSX or its junior TSX Venture Exchange because of the opportunity to finance foreign projects in Canada.  (Is this starting to sound like the Cannabis industry?)
 
If you want to buy a South American, African or Australian mining property you may well be doing so in Toronto. 
 
Canadian mining companies continue to be traded on the TSX and TSXV despite operating in jurisdictions with high levels of domestic corruption and government control.
 
Given the reach of Canadian cannabis companies around the world the TMX needs to draft a policy that allows Canadian companies to compete on an international basis, similar to how they treat mining companies. 
 
In the United States medical cannabis is legal in 29 states with about 60% of Americans living in those states.
 
If companies in the United States are allowed at a state level to be licensed growers and to distribute medical cannabis, then the TMX policy should reflect this practice and not interfere with Canadian listed companies doing business in those states. 
 
So long as Canadian cannabis companies are operating within the regulatory framework established at the U.S. State level it can be argued that the TMX has no legal authority to intervene.