On Tuesday, we published our report detailing 2020 presidential candidate Joe Biden’s intention to reform cannabis laws. Bernie Sanders also expressed a similar vision regarding marijuana laws. In a podcast interview with Joe Rogan, Sanders said that he would legalize marijuana. He’s one of the presidential candidates for 2020.
Sanders on marijuana
Sanders told Rogan that he supported the idea of legalizing marijuana back in 2016. However, he said that his idea was radical back then. According to Sanders, cannabis seems more acceptable now. Corporations are buying cannabis for resale. Sanders also thinks that marijuana creates a burden on a country’s financial system. The country spends money to contain cannabis-related crimes.
Cannabis has become a more mainstream idea. Canada legalized recreational cannabis in 2018. Cannabis legalization created a lot of opportunities in Canada. The industry led to job creation, tax revenue collection, and the possibility of eliminating certain crimes related to cannabis. According to Sanders, the US needs to reform drug laws to protect young people. Canada legalized recreational cannabis for the same reason.
Long way to go
More Democratic candidates support cannabis legalization. How soon the US legalizes it will largely depend on who wins the presidential election in 2020. If President Trump is re-elected, he’s less likely to support marijuana legalization. However, he has supported cannabis legalization in the past. If a Democratic candidate wins the election, then the US might see legalization sooner.
Currently, cannabis companies have to work with hemp-derived CBD products. Canopy Growth (WEED) (CGC) is already developing a hemp operation in New York. However, CBD derived from hemp might be the same as the one derived from the marijuana plant. The main difference is that the amount of CBD in hemp is lower than in the marijuana plant. Companies like Aurora Cannabis (ACB) and HEXO (HEXO) are developing hemp products as well.