Congress is taking another stab at following Canada’s lead by ending long\u002Dstanding federal prohibitions on marijuana in the United States.
A meeting today of the House of Representatives rules committee is expected to set the stage for debate Thursday and a vote as early as Friday on New York Rep. Jerry Nadler’s Marijuana Opportunity Reinvestment and Expungement Act.If passed by both the House and the Senate and signed by President Joe Biden, the bill — known as the MORE Act — would help clear the way for the industry’s expansion by declassifying marijuana as a controlled substance.
“I remain skeptical about how much of a priority this is, in a meaningful way, for people who are actually making policy agendas.”Article content Like smaller state-level markets throughout the U.S., the Canadian market has been a “crystal ball” of sorts for legislators, he said. The U.S. cannabis landscape is an ever-changing patchwork. The drug is legal for medical purposes in 39 states and for recreational use in 19, as well as D.C. But federal law still considers it a Schedule I controlled substance with high risk of abuse and no accepted medical use, alongside drugs like heroin, LSD and peyote.
Indeed, Biden’s federal spending plan, out this week, was seen by some as openly hostile to legal pot. It included no provisions to allow D.C. to create a legal marketplace, and made no mention of protecting state-level cannabis markets, expanding research efforts or safeguarding benefits for veterans who use medical marijuana.tap here to see other videos from our teamLegalization in the U.S. might be good for Canadian giants like Canopy and Tilray Inc.
“Canadian companies who now have a couple of years of operating experience under a legal regime have learned how to mass produce. would potentially be a big opportunity, a whole new market,” Armstrong said.
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