Two Republican congressmen in the U.S. House of Representatives have introduced a bill that would legalize marijuana federally in a manner similar to alcohol.

The measure would remove marijuana from the federal Controlled Substances Act, provide explicit banking protections for the cannabis industry, allow military veterans access to state-legal MJ programs and expand research.

The new Congress, seated in January, must start from scratch in terms of passing marijuana legislation. The House took the first step in April by passing cannabis banking reform.

More than 108 million Americans aged 21 and over, 43.2% of the country’s adult population, now have access to legal cannabis. While expansion of access to any new states is cause for optimism, these recent moves are notable due to the momentum they will add to further legalization efforts.

BDSA expects that cannabis will be legalized federally by 2022, but as many states still have laws criminalizing cannabis, legalization will also need to take place on a state-by-state basis before the country can truly leave prohibition behind. The spread of adult-use legalization to more markets in the South and Southwest could provide momentum for legalization in states where cannabis reform now seems like a pipe dream.

Show Notes:
How New Adult-Use Markets Accelerate the Expansion of Legal Cannabis
https://blog.bdsa.com/new-adult-use-markets
Two US House Republicans pitch federal marijuana legalization bill
https://mjbizdaily.com/daily-news/#two-us-house-republicans-pitch-federal-marijuana-legalization-bill

Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/

Episode 723 of The Talking Hedge:
Your Cannabis Business Podcast.
​Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com

Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
&
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats

Keywords:
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Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.