Support for legalization
This week, Beto O’Rourke announced his bid to run in the 2020 presidential race. While addressing an audience in Iowa, he called for the legalization of marijuana in the United States. His reasoning for its legalization included lowering crime rates and keeping it out of children’s hands, and he seemed to suggest that current laws discriminate against people of color.
Others supporting legalization
O’Rourke isn’t the only one supporting the legalization of cannabis in the United States. Recently, Bernie Sanders, who has also announced his 2020 presidential bid, expressed his support for legalizing marijuana.
Sanders’ rationale behind its legalization also focuses on creating a legal system that doesn’t discriminate. Sanders is opposed to the Controlled Substance Act calling for the same treatment of people caught with marijuana and people caught with heroin.
Earlier this month, Senator Cory Booker, who has also launched a 2020 presidential bid, reintroduced the Marijuana Justice Act. Booker has called the current US marijuana laws a failure and is hoping to revitalize communities impacted by marijuana’s prohibition.
Senator Kamala Harris, who has also announced her 2020 presidential bid, supports legalizing marijuana at the federal level. Supporrting Booker’s Marijuana Justice Act, she tweeted that it was “the smart thing to do.”
These developments look positive for cannabis companies (MJ) Canopy Growth (WEED), Cronos Group (CRON), Tilray (TLRY), and Aurora Cannabis (ACB). To learn more about the industry, read Wall Street Ratings Changes for CGC, TLRY, and CTST in March.