New Congressional Cannabis Bill Proposes Imports and Exports Between Legal States
Marijuana Stocks, Finance, & InvestingUncategorized June 29, 2019 MJ Shareholders
- Oregon just passed first state bill authorizing cannabis exports
- Congress has recently passed other “historic” cannabis reform
- Public opposition to cannabis legalization continues to evaporate
- Enormous synergies for MSO’s if interstate commerce approved
As TSI reported earlier this week, Oregon just became the first U.S. state to legalize the exporting of cannabis to other states with legalized cannabis usage.
The Seed Investor noted:
“The goal of the campaign was not to pass this bill. The goal was to get multiple state governors to call on the federal government to allow us to transport product.”
TSI examined the picture federally.
As TSI reported last week, Congress has voted to block enforcement of federal anti-cannabis laws with respect to legal usage in states that have passed such laws. It also protects legal cultivation operations.
It’s not a large leap to envision Congress passing similar provisions with respect to state-to-state cannabis commerce between states that have legalized cannabis.[emphasis mine]
Will it pass?
As noted in an opinion piece published by Forbes on June 27, 2019, the United States has (to date) been taking a “toe-in-the-water approach” to cannabis normalization.
The article’s author strongly suggested that one particular cannabis Dinosaur may obstruct any truly progressive legislation at the federal level.
TSI just reported on the most recent sentiments of Americans with respect to cannabis legalization. The takeaways from that article went beyond noting that support is rising among all political demographics and age groups.
It was also very illuminating to see where opposition to cannabis legalization was falling the fastest.
Opposition among Republicans has plummeted by 11% in just one year
Meanwhile, support among Democrats is now at 80%. At the rate that opposition is falling among Republicans, by November 2020, Republican support for cannabis legalization could also be approaching that 80% figure.
Are you listening, Mitch McConnell?
Cannabis legalization is here to stay and is spreading among U.S. states. Interstate cannabis commerce is inevitable, sooner or later – and it could very well be sooner.
As TSI also noted in that earlier article:
U.S. multi-state operators (MSO’s) have already been drawing a lot of interest from cannabis investors. But such companies can’t fully capitalize on potential synergies with state borders closed off to any shipments of cannabis and cannabis-derived products.
The pressure is now on Congress to allow interstate cannabis commerce among cannabis-legal states. Beyond that, this increases pressure to end the (ridiculous) classification of cannabis as a Schedule 1 drug.
Once that happens, all other regulatory obstacles for the legal cannabis industry will quickly disintegrate.
Cannabis legalization could very well become a campaign issue in the 2020 election. If so, can Donald Trump afford to say “no” to cannabis legalization?
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