While America’s state legal cannabis industry has grown steadily, creating hundreds of thousands of new jobs and generating billions in revenue, federal law still classifies cannabis as a Schedule I controlled substance. President Joseph Biden has said that, while he supports medical marijuana and giving states the ability to decide how to treat cannabis themselves, he is not behind federal legalization of recreational cannabis. Even though Senate Majority Leader Chuck Schumer has said that he is working on federal cannabis legislation and will advance it with or without the president’s support, the Democrats’ window for passing federal cannabis reform is closing.
Consequently, a bipartisan coalition of advocacy groups and businesses has issued a white paper urging the federal government to legalize recreational cannabis. The 14-page white paper, published last week by the Cannabis Freedom Alliance, expressed the group’s frustration with President Biden’s stance on cannabis, which was recently witnessed…
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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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