US legalization bill not a slam dunk for cannabis companies: analyst

Elements like decriminalization would be good for current companies, said Cantor analyst Pablo Zuanic. On Wednesday, three Senate Democrats led by Majority Leader Chuck Schumer, it marks the first time leading Senate Democrats have taken up cannabis legalization as a top priority. It's the latest sign of changing attitudes toward marijuana in the US., or CAOA, would end federal cannabis prohibition, expunge some criminal records, and permit companies to transport products across state lines.

This would give a huge boost to cannabis companies, said Zuanic. Four companies — Curaleaf, Green Thumb, Trulieve, and Cresco Labs —The Drug Enforcement Agency would no longer have jurisdiction over cannabis. Instead, the responsibility would fall on the Food and Drug Administration , Alcohol and Tobacco Tax and Trade Bureau , and Bureau of Alcohol, Tobacco, Firearms and Explosives .

Starting from the fifth year, tax rates would be determined by weight for flower products or potency for extracts. Under the bill, companies would be allowed to grow cannabis in one state before transporting it to another to sell directly to consumers, something businesses in virtually every other market are able to do today.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia-Pacific stocks mixed after hotter-than-expected U.S. inflation reportU.S. inflation surged in June at its fastest pace in nearly 13 years, the Labor Department reported Tuesday. This is inflation in USA has nothing to do with Asian Stockmarket or countries , stop manipulate our markets , you have problems in USA we didn’t have this problem in Asia simple as it is , bad luck 🍀 . good luck This is USA inflation not Asia inflation , so why do you need Asia Stockmarket follow you for USA problems .
Source: CNBC - 🏆 12. / 72 Read more »