Is Kamala Harris’ Plan For Federally Legal Marijuana Attainable?
Kamala Harris has pledged to legalize cannabis at the federal level, and that’s going to be big topic of discussion in our latest Trade To Black podcast. Kamala Harris’ plan was just unveiled, and she claims that if elected, this will “break down unjust legal barriers that hold Black men and other Americans back by legalizing marijuana nationally, working with Congress to ensure that the safe cultivation, distribution, and possession of recreational marijuana is the law of the land.”
Federal cannabis reform has been the subject of a lot of political controversy, with lines frequently being drawn on the political party boundaries. With the release of this latest plan, Harris has now brought her position on cannabis into her campaign strategy.
Harris’ statements around current marijuana laws disproportionately affecting people of color, while true, also overlook other demographics being impacted, and the plan seems to be more interested in garnering votes than addressing the broader implications of cannabis legalization. There is some criticism so far in the lack of detail, and even should she take office, the plan would still face many of the same legislative hurdles because a president cannot legalize cannabis on their own. A blue wave in Congress might also be required to make cannabis being federally legal a reality.
Dan Ahrens from AdvisorShares (NYSEARCA: MSOS) joins Anthony and Shadd to discuss the impact Harris’ unveiling will have on the momentum of cannabis stocks heading into the US Federal election next month. We’ll share the key drivers that investors will want to keep an eye on.
We will also chat about the latest headlines and recap the events of the Benzinga Cannabis Capital conference that took place in Chicago last week. Mergers and acquisitions were one of the big topics, especially as the industry matures. We’ll discuss the key takeaways and rumors that were circulating during the 3-day conference.
