As of publication, recreational marijuana is available in 18 states and medical marijuana is available in 37 states, but is still banned at the federal level. This could soon change. Sponsored by Senators Dianne Feinstein (D-CA), Brian Schatz (D-HI) and Chuck Grassley (R-IA)— the bill, titled the Cannabidiol and Marihuana Research Expansion Act cleared the full chamber unanimously, without debate. This modest bill simply streamlines the application process for researchers who want to study marijuana’s benefits but it’s increasing acceptance heralds the eventual legalization of marijuana.
Next up and much more interesting, is the MORE Act, which would remove cannabis from the list of federal controlled substances and eliminate criminal penalties associated with the drug.
MORE, which stands for Marijuana Opportunity Reinvestment and Expungement, is expected to get a House vote as soon as next week. Besides widespread cultural acceptance, the key piece of the MORE Act that should look as attempting as a bud of purple haze or sour deezy is the money the government can rake in from taxation.
Stocks like Tilray are already popping on the news and may continue to go higher as this legislation and America’s inevitable acceptance of recreational marijuana grows like an unstoppable weed.