According to USA Today and CNBC, the Department of Justice will be releasing a formal policy reversal on its treatment of marijuana laws, later today. An official close to the DOJ, who wants to remain nameless ahead of the formal announcement, said that Jeff Sessions long ago made his stance clear on tougher enforcement of federal marijuana laws. In fact, he vehemently disagrees with the previous administration’s policy of non-interference, according to USA Today.
Public sentiment was moving toward legalization
The Obama administration chose to take on a view of "Don’t ask, Don’t tell," as long as state laws did not conflict with Federal enforcement policy, regarding marijuana usage. Though not without critics, this policy was largely in keeping with the public’s acceptance of marijuana as depicted by the legalization of the drug for medical and recreational use in AK, OR, CA, CO, NV, ME & MA.
And, the feeling is that more voters will be moving in a similar direction soon.
Trump WH has pattern of taking on natural social movements
However, don’t be surprised. The Trump administration already has a pattern of rolling back Obama policies unpopular with the more recent voting base. An attempt to exclude Transgenders from the military, reign in the EPA, pull out of the Paris Climate Accord, de-regulate the financial markets, and roll back the conservation and preservation of land were all reversals of previously popular trends among the public.
Not only has Pot usage become more acceptable country wide, in a kind of "if you can’t beat’em, join 'em" trend, legitimate businesses have developed as a result.
A Forbes 2015 article listed the following investable categories related to the industry: Cultivation/Operation, Medical dispensary, Legal recreational retailers, Edibles/infused product makers, Service firms (security, software, and setup consulting).
It is not yet clear what the fallout from AG Jeff Sessions’ crackdown will be.
However, it is clear that this is yet another example of running against the wind for this administration.
Serious businesses involved in marijuana
You might think that it is only marijuana users that have invested in the pot legalization movement. However, to date, there are angel funds and venture capital firms as well as Hedge Funds and ETF's all with a vested interest in how the treatment of marijuana usage in this country unfolds.
ABBV, SMG, CRBP, and INSY are just some of the investable stocks available to the public. And, Forbes contributor Ky Trang Ho reported on Alternative Harvest ETF, an ETF with the symbol ETFMG which came out only a couple of weeks ago.
