Welcome To The Last Illegal 420

  • 📰 Forbes
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 53%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

On the 50th anniversary of marijuana’s high holiday, federal legalization is no longer a pipe dream and cannabis is poised to become America’s next $100 billion industry.

more than 40% of the country’s population now lives in a state where cannabis is legal for those over 21, and 32 other states permit medical marijuana use in some form. For now, only two states—Idaho and Nebraska—still consider marijuana just as illegal as heroin.

The momentum is certainly there. Last night, on the eve of 420, the House passed the SAFE Banking Act, which, if approved by the Senate, will finally allow banks and financial institutions to do business with cannabis companies without the risk of being prosecuted under federal law. When that happens, says Robert Hoban, an attorney who has specialized in cannabis law for more than a decade, pressure will ramp up as institutional investors begin to lobby politicians to de-schedule marijuana.

Keystone Crusader: Pennsylvania Lt. Governor sees parallels between the same-sex marriage debate and legalization."Why are we arguing about it?“A lot of the young kids [in Braddock] had these stupid weed charges,” he explains. “They got caught with a blunt or whatever and it would really hold them back. In many cases it was the start of a criminal record—it’s ridiculous.”

“We passed the point of return. There’s no moving backwards,” he says. “If this industry could be shut down, it’s like firing the population of Pittsburgh or Orlando. By 2025, the number of people working in the industry will be the size of Baltimore. It’s not politically feasible.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

kwophy Very nice photo. Go and find the designer and pay him some more money will you

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines