Slow burn… Today is 4/20, the unofficial holiday of cannabis connoisseurs. It’s been a decade since recreational pot was first legalized in the US, in Washington and Colorado. Since then, 16 more states and DC have followed. While national legalization remains an open question, the industry has found ways to advance:
Put that in your pipe and vote on it… This month the House passed legislation to legalize cannabis nationwide. But the bill’s stuck in the Senate, where it’s unlikely to pass because of partisan gridlock — even though it has support from nearly 70% of voters. The absence of a federal law has been a buzzkill for cannabis companies as they try to expand nationally:
High demand doesn’t always assure fast growth… Sometimes it’s in the hands of politicians. President Biden hasn’t pushed for pot legalization, which makes it unlikely the Dem-controlled Senate approves the current bill. But analysts think lawmakers may greenlight canna-banking this year, which could help cannabis companies expand to multiple states even without full legalization.