uploads/// Cannabis Stocks versus Benchmark

Will Marijuana Legalization Be on Joe Biden’s Agenda?


Jun. 16 2019, Updated 9:59 a.m. ET

Joe Biden on marijuana

Joe Biden has been an opponent of drugs, and many believe he is unlikely to change his stance as he campaigns for the 2020 presidential race. The US has taken a rather conservative approach to the legalization of marijuana, while many other countries are slowly opening to the idea of legalizing it nationally.

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Starting slow

Several European countries have legalized medical marijuana at a national level, which is a positive start for industry players (HMMJ) such as Canopy Growth (WEED), Aphria (APHA), Aurora Cannabis (ACB), HEXO (HEXO), and others. The issue that the cannabis industry faces is the lack of enough evidence that medical cannabis has a substantial impact. The lack of evidence has also been one of the reasons the US has held back when it comes to legalizing medical cannabis at the federal level.

Nonetheless, there are companies including Tilray that are making progress on this front. In September, the US government approved Tilray’s cannabis drug for import for use in clinical trials assessing relief to patients with essential tremors. This clinical trial will take place at the University of California San Diego’s Center for Medical Cannabis Research. Successful initial study results could lead to more research, and the company’s cannabis could eventually become available to patients in the US, where medical marijuana is legal in some states.


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