—resulting in a punishing and grueling operating environment for the industry.
Morgan Paxhia, who cofounded San Francisco-based cannabis investment firm Poseidon, which has $200 million in assets under management, says investor sentiment is low. After two years of a Democrat majority in both chambers of Congress going by without lawmakers passing SAFE or federal legalization, investors want a sign from the government that legislative progress is on the horizon.
Paul Armentano, the deputy director of nonprofit marijuana legalization advocacy group NORML, doesn’t expect the federal government to legalize weed this year. “This is going to be a very difficult Congress for moving any sort of marijuana policy reform,” says Armentano. “The window to get something done closed last session.”
But Armentano says the industry has made tremendous strides politically and legislatively over the last two and a half decades at the state level. “[Legalization] victories have almost exclusively all been at the state and local level, and I expect that trend to continue in 2023,” he says. and seven additional states could vote to legalize by the end of this year. Here’s where the cannabis map could expand in 2023.In Hawaii, where medical marijuana is legal, incoming Gov. Josh Green is on record in favor of legalizing adult use. “I think that people already have moved past that culturally as a concern,” Green
It's illegal on the federal level and federal law is superior to state law
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: chicagotribune - 🏆 8. / 91 Read more »
Source: NPRHealth - 🏆 144. / 63 Read more »