The Cannabis industry is booming, And Wall Street is investing, and yet the wheels of government refuse to spin. This lack of action isn’t particularly surprising to anyone, but when you see so much growth in a new market you’d expect politicians to start to give to this new special interest(or at least try to placate to). In this piece, we’ll look at why we are all still waiting and why wall street isn’t.
Quite a bit in the last few years has changed with regards to Marijuana. Twenty-four states have medical. Four states and the district of columbia* have full decriminalization. The Senate Appropriations Committee renewed its commitment to protect states with medical marijuana. Yet sixty bills, some with lengthy cosponsors, sit unvoted, or go to die in committee. Our government isn’t in line with itself or its constituents. Why do they drag their feet? Most likely our next president will favor a change in marijuana policy, while we wait people continue to be sent to jail for what fellow Americans enjoy with leisure. Prohibition especially in the current environment is a disgrace to justice because it sends a mixed message. If I cross the border of Colorado into Kansas with five joints, that could be considered a felony distribution charge with a minimum of 14 months probation with a maximum fine of $300,000. For crossing a line; for going home and seeing my family and hypothetically forgetting about my home state’s draconian drug policies.
Cannabusiness is on the rise and investors are on the move. Unfortunately for the nation, because of the lack of federal policy change, this growth is concentrating in the states that have wisely chosen to cash in first. But recently the green rush has caught the eye of bigger fish. Viridian is a Capital Advisory Group that hosts events around the country and has an office in the heart of NYC, and a symbol on the exchange. Its Advisory board is a broad group of both Marijuana business insiders and big business behemoths that have held key positions in Fortune 500 Companies like Merrill Lynch and Gatorade.
These investors understand risk, and if they can hop on board the green train then maybe this industry will stand the test of time. I feel like decriminalization is just around the corner, why don’t we go ahead and turn the page? If you agree please contact your representatives and governors and tell them to enact common sense marijuana reforms on a state level, and to support national efforts as well.
*While the District has decriminalized marijuana they do not have a process in which to legal purchase or sell marijuana.
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