Presidential candidates are coming out in support of cannabis legalization, but these bills could make that a reality even sooner.

It may feel far off now, but November 3, 2020, looms closer every day.

I don’t know about you, but I’m not looking forward to the slew of attack ads and general nastiness we’re about to see in the media.

But as more and more presidential candidates enter the playing field and begin to solidify their platforms, I see a silver lining – or maybe a green one.

Calling for the legalization of marijuana is no longer taboo. In fact, it’s becoming the norm.

Senator Cory Booker (D-NJ) has painted himself as a champion of legalization. You might remember him grilling William Barr on the subject during his attorney general confirmation hearings back in January.

And Senator Kamala Harris (D-CA) – once a hardline prosecutor in the war on drugs – has changed her tune on legalization. She opposed it as recently as 2014, but now she says, “We need to legalize marijuana and regulate it.” (We know a prominent republican who made the same change, too.)

They’re in good company. Senators Kirsten Gillibrand (D-NY), Bernie Sanders (I-VT), and Elizabeth Warren (D-MA) have all announced their support for federal legalization.

President Donald Trump hasn’t officially said anything one way or the other, but he has stated he would support cannabis legislation, and my good friend and colleague Tim Melvin predicts the president will make his move on cannabis incredibly soon.

But will we even have to wait that long?

Two bills have been introduced into Congress, and they could mean huge things for cannabis legalization – and huge profits for those who know where to put their money today.

One of those bills is the STATES Act, which we first discussed in detail after my interview with Representative David Joyce (R-OH) last November. Joyce co-sponsored the bill with Earl Blumenauer (D-OR), and he’s confident about its chances of passing this year.

But another piece of cannabis legislation – Senate Bill 420 – was introduced last month.

Here’s why that bill could provide an even greater opportunity for massive profits…

A 60-Day Mandate

Last week, Senator Ron Wyden (D-OR) introduced S.420, known as the “Marijuana Revenue and Regulation Act.”

This new bill would require the Drug Enforcement Administration to remove cannabis from the Controlled Substances Act within 60 days. Individual states could choose to keep prohibition intact, but federal prohibition – and the confusion it causes in legal states – would be eradicated.

In the first event of its kind, we brought together the cannabis industry’s heaviest hitters for one reason – to show you how to get rich from America’s biggest cash crop. Former Speaker of the House, John Boehner, just revealed the three events set to catapult the industry… and your potential profits. Take a look

S.420 would also amend the Internal Revenue Code of 1986 to provide for the taxation and regulation of cannabis products, thereby requiring retailers to add an excise tax to marijuana just as alcohol and tobacco are taxed.

Businesses would need to register for special permits to sell product, and that product would face labeling and advertising requirements similar to those required for alcohol.

And regulating cannabis like alcohol and tobacco just makes sense. As I’ve said before, marijuana isn’t all that different from other consumer packaged goods – we’re just seeing it grow much faster. Drawing from the regulations in place in established industries allows that growth to continue without the hindrance of bureaucratic quagmires.

Will It Pass?

This is not the first time we’ve seen a bill numbered 420 – a number celebrated within traditional cannabis culture. In fact, we seem to see a piece of cannabis legislation with that number every year.

Obviously, none of those previous bills passed, and S.420 definitely faces an uphill battle.

But there is good reason to be hopeful. In a statement, Senator Wyden said, “The American people have elected the most pro-cannabis Congress in American history.”

And he’s right. While the thought of lawmakers passing this sort of legislation would have been laughable in the past, the fact anyone is taking a serious look at this bill speaks volumes to how much – and how quickly – public attitudes have changed.

It’s time we stop being surprised by these changes. When a drug warrior enters the presidential race with a pro-cannabis lean and when a house speaker once “unalterably opposed” to legalization says he’s going “all in” on cannabis, there should be no shock when our elected officials pass a bill like this.

For my money, I think the STATES Act has the best shot of passing this year, but I can promise you I won’t be caught off guard if something else – something bigger – happens first.

Make sure you don’t get caught off guard either.

Thank you for being an integral part of the National Institute for Cannabis Investors,

Greg Miller
Executive Director, National Institute for Cannabis Investors

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Comments

12 responses to “As the 2020 Race Nears, Federal Legalization Could Be Even Closer”

  1. Awesome we will win together and average joes will be a part of compounded annual growth, double and triple digit winning stocks and beyond, a financial blessing for many in a massive growth new industry!!!

  2. Greg, You Rock, Dawg!
    I have been a Cannibis user since 1969, and have dreamed of the day when our Herb of choice will be federally legalized, preceded of course by taking it from the Schedule 1 List. Should not even be on a drug list!!! I remember the days of the back alleys, etc to score some bud. I am a cardholder for Medical Marijuana in Arizona. I love living here, and if you ever get out to Phoenix, I will pick you up at the airport, and bring you out to Fountain Hills, the most beautiful little town (22,000) full time residents like me, but thousands of snowbirds Roctober to April. We just had an Exotic and Sports car show on Feb 9. Over 800 cars on display circling our 22 acre fountain lake. A walkaround is 1.25 miles of glorious scenery i.e. mountains surround our town, and one is super spectacular, known as Red Mountain by nickname. I have believed since 1969, that one day, this plant would be legalized and shared worldwide. BTW, I have been to Amsterdam and Copenhagen, while stationed in Germany in the AF for 3 years. So, in this hotel room this fine lass took out a rolled up newspaper, with what turned out to be some “Elephant Grass” from Africa. This was in 1963! Too much Fun. So, I gotta run for now. C’mon out and enjoy some sun, Dinner and Drinks on Me! I am too stoked that I am an investor in a product that will or has gone worldwide bananas! Let’s: ‘GIT ‘ER DONE!

  3. I think the American public can see that they can control the markets better than the Federal government. Let individual States decide what happens in their States.

  4. Morning Greg as usual your staying on top of your game!!! You are simply awesome. Thank you for everything. Your much appreciated. Have a great day!!!

  5. Great articles and content, Greg. I look forward to reading every issue published. Being a novice to this newly found cannabis industry, I am learning more with each and every NICI publication and updates. Keep up the good work!

  6. Hi Greg, I’m a life time founding member and my friends thought I was crazy for signing up but the more I tell them about the information you guys have been providing and how much $$ I have made I am getting the last laugh and they are all asking me for the web site. Thanks for all you guys do and keep up the good work.

  7. Im in my 60s and cannabis has always been a big part of my life. I have grown it, smuggled it and dealt it. I used it for income and happiness. Now as i grow older…and closer to retirement i have started to slow down
    I have given up illegal drugs and drinking alcohol. However i still smoke my weed most every day
    It has always been there for me when i needed to sleep or to pull me out of depressions.
    NOW… i am one of the millions of Americans who did not save for and therefore have no retirement.
    WOW.. Its sooo ironic that cannabis…through my investments…and with the help of NICI..will be there for me again to help me with my retirement. Whoi would have thunk it. Thanks cannabis…and NICI

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