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Senators Schumer, Booker and Wyden Introduce Comprehensive Legislation to End Federal Cannabis Prohibition | Saul Ewing Arnstein & Lehr LLP

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Long-shot bill would also allow states to set own laws, make FDA lead regulator, address impact of War on Drugs, impose excise tax, and create CBD dietary supplement pathway.
More than five months after first previewing their sweeping cannabis reform proposal, Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Finance Committee Chair Ron Wyden (D-Ore.), and Senator Cory Booker (D-N.J.) finally released Wednesday a discussion draft of the Cannabis Administration and Opportunity Act (CAOA).
The comprehensive measure would, among other things:
Deschedule cannabis: End the federal prohibition on cannabis by removing it from the Controlled Substances Act (CSA); ....

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The Current Cannabis Sector Rally Is Pointing To Another Breakout :: The Market Oracle ::

My research team and I continue to believe the Cannabis/Alternative sector is poised for a big trend in 2021 and 2022. Over the past few years, this sector has continued to trend lower after the hype of 2016~2018 – back when everyone was getting into the Cannabis industry as multiple US states authorized recreational and medical use. After the 2018 peak, followed by the early 2019 moderate price recovery, this entire industry sector fell out of favor with investors for almost 2 full years.
MJ Pennant Setup Almost Complete
The peak in the MJ, Alternative Harvest ETF, in September 2018 was $45.40. The lowest price since that peak was in March 2020 at $8.81 – that’s an 80% decline in price. Currently, MJ is trading near $22.31 and we’ve seen a tremendous recovery after the 2020 US elections. These elections resulted in a wave of enthusiasm for Cannabis and Alternative supply companies as it was widely expected the Democrats would move ....

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