We are now 33 days out from the US Presidential election and all the states' voting on ballot issues. This is a critical time for our C+H (Cannabis and Hemp) industries and voting results will tell us a lot about even greater momentum for all the industries and companies which we serve. What you need to know are the top 4 C+H legalization trends and how they will impact industry growth and the speed by which this growth will happen.
Trend #1 - The MORE Act of 2019 will have a huge affect on our country.
The House Judiciary Committee has approved a bill Wednesday that would decriminalize marijuana at the federal level. The Marijuana Opportunity Reinvestment and Expungement Act of 2019, or MORE Act, passed 24-10 after more than two hours of debate. It now heads to the full House.
The bill would remove marijuana from the list of federally controlled substances, allow states to set their own marijuana policy and require federal courts to expunge prior convictions for marijuana offenses. A 5% tax on marijuana products would also establish a trust fund for programs designed to help people disproportionately impacted by the "war on drugs," including job training and treatment for substance abuse.
"For far too long, we have treated marijuana as a criminal justice problem instead of a matter of personal choice and public health. Whatever one's views on the use of marijuana for recreational or medicinal purposes, arresting, prosecuting and incarcerating users at the federal level is unwise and unjust," House Judiciary Committee Chairman Jerry Nadler said in his opening statement.
This bill is being sponsored by Kamala Harris and the legislation intends to right the wrong of those individuals penalized for non-violent Cannabis crimes. But the impact will go much, much further in ensuring that Cannabis is removed as a Schedule 1 drug and that Cannabis becomes legal at the Federal level which it is not currently. By passing this bill and legalizing Cannabis at the Federal level then banks can finally support all of the C+H businesses that have been struggling without banking industry support especially in areas such as e-commerce, major US and other stock markets, institutional investing, etc. This bill is a HUGE opportunity for our C+H industries around the world as well as in North America!
Trend #2 - New Jersey as a Middle Atlantic States Tipping Point
With New Jersey about to vote on their Cannabis Recreation legalization on November 3rd, 2020, the state will become (we predict) a major positive tipping point for all other Middle Atlantic states who have not passed a Recreational Cannabis bill, to do so. This state will then open the flood gates for a new 9 Billion dollar market opportunity across states such as Rhode Island and Connecticut (New England states) as well as New York, Delaware, Maryland and so on.
Trend #3 - South Dakota as a Central and Western States Tipping Point
South Dakota is currently one of the most restrictive states in the USA. But if they should pass a medical and recreational bill to allow legalization, this will be another HUGE impetus for other restrictive states in the Central and Western areas of the US. Keep you eyes on this one!
Trend #4 - CBD Sales Primed to Move into Grocery Chains
The Farm Bill of 2018 legalized the sale of Hemp and CBD in all US states and also for interstate commerce. But the distribution of high quality Hemp-derived CBD sales will now be htting all of the major grocery store chains which will be another high growth opportunity for companies in the CBD markets.
Edited by MemberSupport