United States Congress Makes History With Passage of Medical Cannabis Research Act

After much deliberation, and no shortage of dramatic influence by representatives, on September 13, the congress committee passed the medical cannabis research act. This moment will go down in history as the second ever-congressional vote on a stand-alone marijuana bill.

A number of arguments surfaced during Thursdays meeting, in response to congress questioning whether anyone with cannabis related felonies or convictions could take part in research cultivation operations moving forward.

Activist groups such as the American Civil Liberties Union and the Human Rights Watch, feel that without the proper reform and re acceptance of these people into the cannabis related culture; government is actually making it more difficult for past offenders to attain employment in the future.

With very little sympathy for that mindset, Committee Chairman Bob Goodlatte argued that we must begin setting a standard to filter who will be involved in the first wave of research grade studies by universities and medical institutions. Goodlatte was unwilling to strike a balance where people with minor misdemeanors could participate, as opposed to people facing criminal felonies.

Overall, the chairman demonstrated his understanding of the delicate nature of this situation, and the bill was passed by a voice vote, with the possibility of revisions to be made before it reaches the house floor.

Now the real question lies in how much merit this bill really holds. Many enthusiasts question why more research needs to be done in the first place. Rep. Matt Goetz, who is heading the act, seems to believes in the importance, after his tweet on Thursday.

Marijuana policy reform in the United States is going to take no less of a conscious progression. The great leaders push forward ever so slowly, changing the minds of those that impose laws. Shockingly, the United States still vacuously classifies marijuana as a schedule 1 drug with no medical value. Although this bill sits like a grain of sand on the outstretching beach that is federal prohibition, it is still a step in the right direction.

As a Canadian investor, we currently have access to many companies with US exposure that have chosen to go public over in Canadian markets. With the legal sale of cannabis in select states, there is great opportunity for Canadians, and it will only get better as time progresses. In the distant future, once it is legal on the federal level, it would not be unreasonable to expect the larger Canadian players to consider acquiring the medium cap American players.

Remember to Stay Connected as the Story Progresses. Happy Investing.