uploads///Cannabis Sector ETFs

Why Senator Booker Wants to Legalize Marijuana in the US


Mar. 4 2019, Updated 3:38 p.m. ET

Why legalize cannabis?

Upon announcing the reintroduction of the Marijuana Justice Act, Senator Cory Booker took to the social media to explain his reasons for proposing marijuana be legalized in the US federally. In one of the tweets, Senator Booker stated that people of color were impacted disproportionately by the current enforcement of marijuana laws. He stated that the chance of African Americans being arrested for marijuana possession was much higher than their white counterparts.

Senator Booker has called the current marijuana prohibitions in the US a failure and is also hoping to revitalize communities that are negatively impacted by marijuana prohibitions, indicating that he wishes to make the communities that are the hardest hit economically successful.

Article continues below advertisement

WHO to remove marijuana from schedule IV classification

WHO (World Health Organization) called for removing cannabis and related substances from Schedule IV classification. If the recommendation is enacted, it would be another win for companies (HMMJ) including OrganiGram (OGRMF), Canopy Growth (WEED), Aphria (APHA), and Aurora Cannabis (ACB).

Globally, reclassifying marijuana to a less severe category could change the overall perception. In many countries, there has been increased acceptance towards marijuana-related medicinal products. The attitude towards marijuana and related products is softening on several levels.

But has legalization of marijuana been successful in Canada? We’ll discuss this question in more detail next.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.